Merchants preserve bets on Fed charge cuts this yr, beginning in June

(Reuters) -Merchants on Wednesday stored bets on Federal Reserve charge cuts this yr after Fed Chair Jerome Powell stated the U.S. central financial institution is well-positioned to attend for larger readability earlier than making any modifications to the stance of coverage.

Merchants of short-term interest-rate futures are betting the Fed resumes charge cuts in June and that by yr finish the coverage charge, at present within the 4.25%-4.50% vary, will likely be a full proportion level decrease.

(Reporting by Ann Saphir; Modifying by Chris Reese)