Traders weigh chance of Fed cutting U.S. rates after Brexit
Reuters
Published Jun 24, 2016 01:21AM ET
Traders weigh chance of Fed cutting U.S. rates after Brexit
NEW YORK (Reuters) - U.S. short-term interest rates futures rose to contract highs in early U.S. trading on Friday after Britons voted to leave the European Union, spurring traders to expect the Federal Reserve may cut interest rates to help shield the economy from any global fallout.
Federal funds futures implied traders priced in a 10 percent chance the U.S. central bank may reduce key U.S. rates at its July 25-26 policy meeting. That later slipped to 4 percent FFN6 , according to Reuters data.
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Written By: Reuters
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