(Reuters) - The dollar's gains in May put it on track for its biggest monthly rise against a basket of currencies since at least February 2006, after declining steadily all year, as expectations for a cut in U.S. interest rates dimmed.
The implied chance of the Fed cutting rates by 25 basis points by 2008 is now less than 50 percent, down from earlier in the year when futures traders priced in at least two cuts.
Read more at Reuters.com Hot Stocks News
The implied chance of the Fed cutting rates by 25 basis points by 2008 is now less than 50 percent, down from earlier in the year when futures traders priced in at least two cuts.
Read more at Reuters.com Hot Stocks News
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