CME FedWatch Tool shows 75% chance of one more 25 bps rate cut in September
|Following the Federal Reserve's decision to lower the federal funds rate by 25 basis points to 2% - 2.25% range, the CME Group's FedWatch Tool's probability of one more 25 basis points rate cut in September rose to 75% from 55% seen on Tuesday.
In its policy statement, the Fed said that implications of global developments for the US economic outlook and muted inflation pressures were behind today's decision.
Meanwhile, the US Dollar Index, which rallied to its highest level in more than two years at 98.42 with the knee*jerk market reaction, was last seen at 98.28, adding 0.22% on the day.
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