WSJ:Key Dollar, Sterling Borrowing Rates Fall; Euro Rate Climbs
By Tommy Stubbington
The cost of borrowing dollars and sterling for three months in the London interbank market fell Thursday, while the corresponding euro rate rose.
Data from the British Bankers' Association showed that the three-month dollar London Interbank Offered Rate, or Libor, fell to 0.36025% from 0.36225% on Wednesday.
The spread between the three-month dollar Libor and overnight index swaps--a barometer of market stress--narrowed to 21.7 basis points from 22.3 basis points on Wednesday.
The sterling rate fell to 0.60375% from 0.61000%, while the euro rate increased to 0.15429% from 0.15286%.
-Write to Tommy Stubbington at tommy.stubbington@dowjones.com
