June 8, 2017 / 5:44 PM / a month ago

MONEY MARKETS-Traders fully price in U.S. rate hike next week

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NEW YORK, June 8 (Reuters) - U.S. interest rates futures were mostly weaker on Thursday, suggesting traders had fully priced in a possible quarter-point rate increase at the Federal Reserve's policy meeting next Tuesday and Wednesday.

At 1:22 p.m. (1722 GMT), federal funds futures implied traders priced in a 100 percent probability the Fed policymakers would raise key short-term borrowing costs to 1.00-1.25 percent next week , up from a 96 percent chance late on Wednesday, CME Group's FedWatch tool showed. (Reporting by Richard Leong; Editing by Meredith Mazzilli)

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