USD – The dollar pared gains on Thursday as aggressive rate hike bets fell following comments from Fed’s Bullard and Waller, who both indicated they favoured a 75 basis point rate hike at the Fed’s July meeting as opposed to recent market calls for a 100 basis point increase.
According to Reuters, following Bullard’s and Waller’s comments, Fed funds futures for a 100 basis point increase this month fell to just 31%, down from around 70% beforehand.