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U.S. fed funds futures hit record volume at 1.29 mln - CME

NEW YORK, June 20 (Reuters) - U.S. federal funds futures reached record one-day volume, totaling 1.29 million contracts, on Wednesday as the Federal Reserve signaled it was prepared to lower interest rates later this year, exchange operator CME Group said on Thursday.

Prices on fed funds futures, which gauges traders' view on Fed policy, rose on Wednesday, as traders bet on multiple rate cuts in the next 12 months from the U.S. central bank in a bid to counter slowing economic growth and uncertainty from global trade tensions. (Reporting by Richard Leong)