The likelihood of an interest rate hike in September fell after Wednesday's release of the latest Fed minutes, RBS said.
Based on its calculations, RBS said the futures market was pricing a 36 percent chance of a September hike after the minutes.
The forecast had been 45 percent prior to the minutes. The CME Group's FedWatch tool, which is updated daily, had also shown a 45 percent chance of a rate hike next month.
RBS also said traders were now estimating an 85 percent chance of a rate hike in December. It had been 100 percent before the minutes' release.