The Federal Reserve may ​cut short-term ⁠borrowing costs again ‌in June after government ​data showed the economy shed ​jobs last month, ​traders bet on Friday.

The surge in ⁠global oil prices kicked off by the Iran conflict had ​raised ‌concerns over ⁠a ⁠push higher to inflation that is ​already running ‌above the ⁠Fed's 2% target, with traders pushing the probability of a June rate cut down to only 35% as of minutes before ‌the jobs report. Odds of ⁠a rate ​cut by June are now priced at ​about ‌49%.

(Reporting by Ann ⁠Saphir; Editing ​by Toby Chopra)