Forex
Fed Raises Odds for Rate Hike Amid Rising Inflation and Oil Prices
US headline inflation rose 0.4% in August and 3.4% from a year earlier, both in line with expectations.
The August employment report changed the Federal Reserve's calculation, as markets now put the probability of a quarter-point increase this week at roughly 87%, compared to about 59% immediately after the report.
Goldman Sachs and JPMorgan have moved to forecasting a September hike, with JPMorgan also expecting another increase in December.