Fed June rate hike odds drop to 73.8% on weak US data

A weaker US retail sales and inflation data released on Friday saw investors trim their expectations of a 25 basis point Fed rate hike in June. 

The odds of an interest rate hike in June fell from 83.1% to 73.8%. 

The probability is well above 60% mark the Fed wants to see before moving rates. Only a drop below 60% would put Fed’s plans in jeopardy.