Fed Hike Odds Jump to 61.9% Ahead of September Meeting

The probability of a Federal Reserve rate hike in September has increased to 61.9%, up from around 51% last month.

This shift follows the Fed's July decision to keep rates steady, with three Fed presidents - Beth Hammack, Neel Kashkari, and Lorie Logan - favoring an immediate quarter-point increase for the first time since September 2016.

Oil prices have risen above $100 a barrel in recent weeks, adding pressure on inflation, which the Fed is trying to manage.

Nigel Green of deVere Group says investors should reassess their positions, particularly those expecting rate cuts this year, as a stronger dollar and firmer margins for financial stocks may move ahead of the actual policy announcement.