WSJ:Key Dollar Libor Falls; Euro, Sterling Also Decline
By Tommy Stubbington
The cost of borrowing dollars for three months in the London interbank market fell Wednesday, while the sterling and euro rates also declined.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, or Libor, fell to 0.45610% from 0.45760% Tuesday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 28.9 basis points from 29.1 basis points.
Sterling borrowing costs for three months eased to 0.85213% from 0.85963%, while the euro rate fell to 0.39964% from 0.41393% Tuesday.
Write to Tommy Stubbington at tommy.stubbington@dowjones.com
