Market prices in 85% probability of Fed rate hike in September
- —US August CPI rose 3.4% year-on-year and 0.4% month-on-month
- —Core inflation excluding food and energy was 2.4% year-on-year
- —Energy prices rose 16.3%, gasoline — 27.4% year-on-year
- —The probability of a 25 bps rate hike in September rose from 59.4% to ~85%
Why it matters: A Fed rate hike will increase pressure on risk assets, including cryptocurrencies, due to rising yields and a stronger dollar.
Source: TokenPost