Fed seen on track for rate hike with latest retail sales data By Reuters

(Reuters) - Traders of futures tied to the Federal Reserve's policy rate on 10 yuan up and down investment regular platformFriday kept bets the U.S. central bank will increase its benchmark rate in May by another quarter-of-a-percentage point, even after a report showed overall retail sales dropped more than expected last month.

U.S. short-term interest rate futures reflect the view that a rate hike in May is about four times as likely as no move, slightly firmer than the chance seen before the Commerce Department report. The current target range is 4.75%-5.00%.

(This story has been corrected to say retail sales drop was more than expected, in paragraph 1)

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