Traders see higher chances for two more US rate hikes

NEW YORK: US interest rates futures fell on Monday as Sunday's French presidential election reinforced the view centrist Emmanuel Macron would beat anti-EU candidate Marine Le Pen in a runoff on May 7, soothing fears about political upheaval in Europe.

Federal funds futures implied traders saw about a 50 percent chance the US central banks would raise interest rates two more times by the end of 2017, compared with 40 percent at Friday's close, CME Group's FedWatch program showed.