CME Group FedWatch's odds of June hike fell to 64.6%

As the political turmoil in the U.S. continues to harm the market sentiment, the yields on the safe haven U.S. Treasuries decline, weakening the expectations of a rate hike in June.

CME Group FedWatch tool, which calculates unconditional probabilities of Federal Open Market Committee (FOMC) meeting outcomes to generate a binary probability tree, on Wednesday shows that the chances of a rate hike in June fell to 64.6%. Just a week ago on May 7, the probability was seen at 87.7%.

In the meantime, the US Dollar Index is at 97.45, down 0.66% on the day.

Political headlines from the U.S.

• U.S. Senate Committee inquired WH to provide transcripts, memos and recordings of Trump-Obama conversations with Comey
• U.S. Senate Intelligence Committee requested James Comey to appear in both open and closed sessions
• US Rep. Adam Schiff: Impeachment cannot be perceived as an effort to nullify the election by other means
• US House Speaker Ryan: Need the facts on Comey & Russia reporting - LiveSquawk