June 10, 2019 / 1:06 PM / 6 days ago

MONEY MARKETS-U.S. rate-cut bets fall after Trump calls off tariffs

NEW YORK, June 10 (Reuters) - U.S. interest rate futures fell on Monday after U.S. President Donald Trump late Friday suspended a 5% tariff on Mexican tariffs due to a pact which Mexico agreed to expand a program to stem the flow of illegal Central American migrants.

At 8:44 a.m. (1244 GMT), federal funds futures implied traders saw a 17.5% chance the U.S. central bank would lower key borrowing costs by a quarter point to 2.00%-2.25% at its June 18-19 meeting, down from a 25% probability late on Friday, according to CME Group’s FedWatch program. (Reporting by Richard Leong)

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