Likelihood of fed rate hike in December now at 100%
The odds that the Federal Reserve (Fed) will raise interest rates in December have hit 100%, according to market analysts at Reuters. The market priced in the odds at 100% that the Fed will decide to increase interest rates by 25 basis points to 0.50%-0.75% during its next meeting, December 13-14.
That is compared with the 85.8% odds a week earlier and 95.4% reported on Monday.
As a result, the dollar has continued to move higher against other major currencies, holding near 14-year highs. At 06:39 GMT, the USD Index was trading at 101.075 (up 0.07%).
Will the uptrend continue?
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