Fed likely to hike rates ahead of May policy meeting

In the Asian session on Thursday (May 25), the U.S. dollar index rose from a low level. The latest price of the U.S. dollar was 103.92, an increase of 0.01%. Bets that the Fed will raise rates at its next meeting in June rose slightly after the release of the minutes of its May policy meeting.

The latest from the Federal Reserve:

Fed officials “generally agreed” in May that the need for further rate hikes “has become less certain,” but others warned that the central bank needed to keep its options open given persistent risks to inflation. Fed funds futures are pricing in a 35.3 percent chance the Fed will raise rates at the end of its two-day policy meeting on June 14, according to the data.