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Rising hopes of US rate hikes after jobs report
After strong job data was released in May, expectations for a tightening of U.S. monetary policy increased. Futures contracts now indicate a 65% chance of the Federal Reserve raising interest rates in December, up from 48% before the report. Non-farm employment rose by 172,000 jobs during the month, surpassing economists' expectations of an increase of 85,000 jobs.
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