WSJ:Key Three-Month Borrowing Rates Mixed; Dollar Edges Higher
By Nick Cawley
The cost of borrowing dollars for three months in the London interbank market rose marginally higher Friday, the sterling rate remained unchanged while the euro rate dipped fractionally lower.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, rose to 0.27525%, from 0.27465% on Thursday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, moved wider to 16.9 basis points compared to 16.5 basis points on Thursday.
The sterling rate remained steady at 0.50563%, while the euro rate slipped lower to 0.11500% compared to 0.11571% previously.
