Rate Hike Hopes Plunged as US Payrolls Frustrated

Hopes of a Fed funds rate hike in summer diminished markedly following the soft US employment report. Bets for a June rate hike plunged to around 4% on Friday, down from 30% a week ago, while those for a July hike fell to 41%, from above 50% last week. Treasury yields plunged shortly after the report. US dollar consolidates on Monday, after a sharp selloff last week.

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Rate Hike Hopes Plunged as US Payrolls Frustrated