Fed rate hike bets for Oct fall sharply on soft data, dovish comments

Markets sharply pared their expectations for an interest rate hike by the Federal Reserve in October following soft labor data and dovish comments from a policymaker. Traders are now pricing in a 49.4% chance the Fed will raise interest rates to 4.25% in October, down from 74.6% a day earlier, CME Fedwatch showed on Wednesday. ...