CME Group FedWatch's odds of June hike fell to 64.6%

Eren Sengezer FXStreet

As the political turmoil in the U.S. continues to harm the market sentiment, the yields on the safe haven U.S. Treasuries decline, weakening the expectations of a rate hike in June.

CME Group FedWatch tool, which calculates unconditional probabilities of Federal Open Market Committee (FOMC) meeting outcomes to generate a binary probability tree, on Wednesday shows that the chances of a rate hike in June fell to 64.6%. Just a week ago on May 7, the probability was seen at 87.7%.

In the meantime, the US Dollar Index is at 97.45, down 0.66% on the day.

Political headlines from the U.S.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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