WSJ:Key Dollar And Sterling Rates Continue To Fall, Euro Unchanged
By Nick Cawley
The cost of borrowing dollars and sterling for three months in the London interbank market fell Thursday, while the corresponding euro rate remained unchanged for the second day in a row.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, or Libor, fell to 0.38875% from 0.39425% Wednesday.
The spread between the three-month dollar Libor and overnight index swaps--a barometer of market stress--fell to 26.4 basis points from 27.0 basis points Wednesday.
The sterling rate fell to 0.66188% from a previous reading of 0.66625%, while the euro rate remained unchanged at 0.15857%.
