FXStreet (Mumbai) - The probability of the Fed rate hike in December now stands at 47%, as opposed to the 34% probability seen ahead of the FOMC statement. The march probability now stands at more than 70%, compared to the 58% probability seen ahead of the statement. The FOMC statement dropped the statement expressing concerns regarding global developments and said the bank may consider moving rates in December if the data permits to do so. The treasury prices witnessed a sharp sell-off leading to a rise in the yields. The 10-yr yield now stands at 2.08% compared to 2.06% ahead of the FOMC statement. The more policy sensitive 2-yr yield rose to a high of 0.723%, before trimming gains to trade around 0.695%. For more information, read our latest forex news.