WSJ:Key US Dollar, Euro Libor Fall; Sterling Rate Unchanged
LONDON (Dow Jones)--The cost of borrowing dollars and euros for three months in the London interbank market fell Wednesday while the sterling rate was unchanged.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, or Libor, was fixed at 0.51325%, down from 0.52000% Tuesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 40.2 basis points from 41.2 basis points.
Sterling borrowing costs for three months were unchanged at 1.07706%, while the euro rate fell to 1.01086% from 1.01786% Tuesday.
-By Neelabh Chaturvedi, Dow Jones Newswires; +44-20-7842-9495; neelabh.chaturvedi@dowjones.com
