Traders Keep Bets On Fed Rate Hike Later This Month

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Traders in the US are becoming more convinced that the Federal Reserve will increase interest rates later this month.
After a government report showed that unemployment across the nation hit a nine-year low in November, a Fed monitor has the chances of an interest rate hike at 95-percent.
Based on CME's FedWatch page, the Fed's mid-December meeting will almost certainly include a bump to the federal funds rate.
But traders were expecting interest rates to increase before 2017 even before the unemployment report released.
Prior to the release, traders put the chances of a December rate hike at 93-percent.

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