March 8, 2017 / 2:52 PM / a year ago

Traders strengthen U.S. rate hike view after ADP jobs data

NEW YORK (Reuters) - U.S. interest rates futures added to earlier losses on Wednesday as traders raised their expectations on the number of U.S. rate increases in 2017 following a stronger-than-forecast February reading on private jobs growth from payroll processor ADP.

Federal funds futures implied traders saw a 23 percent chance the Federal Reserve would raise interest rates at least four times this year FFZ7, compared with 21 percent at Tuesday’s close, CME Group’s FedWatch program showed.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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