Latest Market News: 29th May 2023

There are multiple factors contributing to the weakness of the JPY. Additionally, concerns regarding US regional banking have eased, leading to a more favourable outlook for investors. Moreover, investors have shown a confident outlook on the US debt ceiling negotiations, adding to the JPY's weakness.

And the great relief of the US Debt Ceiling resolution is at hand. Much as most had expected, an eventual agreement at the last moment. Those doubts look to be solved as both Biden and McCarthy express very positive sentiments about the likelihood of their agreement in principle being passed by both Congress and the Senate.

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