FXStreet (Mumbai) - The latest CME fed watch data shows the probability of a 25 basis point rate hike at future Fed meetings dropped slightly after the release of the Fed minutes. March rate hike bets drop Heading into the event, a 25 bps rate hike probability stood at 43.6%, which now has dropped to 42.00%, while the probability of a status quo increased to 42.3% from 37.7%. On similar lines, the December rate hike bets dropped to 33.6% from 36.3%, while bets that rates will stay unchanged ticked higher to 64.3% from 62.1%. Meanwhile, the 2-year treasury yield, which also represents the rate hike expectations, remains largely unchanged around 0.633% post Fed minutes release. For more information, read our latest forex news.