Forex News: Short-end fed-funds and Eurodollar futures settled unchanged to lower, as stronger-than-expected rise in consumer inflation and stock market rally sparked modest boost in rate hike expectations. Nearby Aug unchanged at 97.985, pricing in only about 7% chance for FOMC to raise funds rate 25 BP to 2.25% at Aug. 5 meeting. Longer-dated Nov sees about 52% chance for 2.25% rate by Oct. 28-29 FOMC, up from about 44% chance at Tuesday's settlement. Nov at 97.87, down 2 BP. 3Q Sep Eurodollars down 0.5 BP at 97.145. 4Q Dec settled 5 BP lower at 96.985. 1Q Mar '09 contract down 6.5 BP at 96.945.
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