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As expected, Fed rate hike expectations eroded further.

September remains off the table, but the probability of a December hike tumbled to 35.9%.

Another use is manufacturing of nitric acid and used in hydrogenation of organic compounds.

Rhodium usage is dominated by automotive catalyst applications where it is used together with platinum and palladium to control exhaust emissions.

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It is used as a finish for jewelry, mirrors, and search lights.

It is also used in electric connections and is alloyed with platinum for aircraft turbine engines.