May 17, 2017 / 1:51 PM / 3 months ago

MONEY MARKETS-Traders scale back June U.S. rate hike view on Trump concerns

NEW YORK, May 17 (Reuters) - U.S. interest rates futures rose on Wednesday in step with a bond market rally as traders pared bets on a possible Federal Reserve rate hike next month due to concerns that scandals could slow President Donald Trump's economic agenda.

Federal funds futures implied traders saw a 69 percent probability the U.S. central bank would raise its key short-term lending rate by a quarter percentage point to a range of 1 percent to 1.25 percent at its June 13-14 policy meeting .

That was the lowest perceived likelihood of such a move since April 14, according to CME Group's FedWatch program. (Reporting by Richard Leong; Editing by Paul Simao)

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