GS: FED HIKE MONITOR: FXWW

From the FXWW Chatroom: Next hike – probability for September is still implied below 40%, as the market gets ready for a normalization of balance sheet. Cumulative probability for a hike until the end of 201 is 69%. Note that historically the Fed has only, and always, hiked when the market prices in more than 50% ahead of the meeting.
=> Forwards – the market is pricing in another 16bps of hikes for 2017, lower than the 3 hikes implied by the median Fed dots.

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