WSJ:Key Dollar, Sterling Borrowing Rates Fall; Euro Rate Rises
By Jessica Mead
The cost of borrowing dollars and sterling for three months in the London interbank market fell Friday, while the corresponding euro rate rose.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, or Libor, fell to 0.38525% from 0.38875% Thursday.
The spread between the three-month dollar Libor and overnight index swaps--a barometer of market stress--fell to 25.7 basis points from 26.4 basis points Thursday.
The sterling rate fell to 0.65563% from a previous reading of 0.66188% while the euro rate rose to 0.16000% from 0.15857%.
Write to Jessica Mead at jessica.mead@dowjones.com
