WSJ:Key Dollar Borrowing Rate Falls; Euro, Sterling Rates Steady
By Tommy Stubbington
The cost of borrowing dollars for three months in the London interbank market declined Tuesday, while the euro and sterling rates were unchanged.
Data from the British Bankers' Association showed the three-month dollar London Interbank Offered Rate, known as Libor, was 0.26420%, down from 0.26470% on Monday.
The spread between the three-month dollar Libor and overnight index swaps, a barometer of market stress, narrowed to 16.4 basis points from 16.6 basis points.
The sterling and euro rates were unchanged at 0.51250% and 0.15071% respectively.
Write to Tommy Stubbington at tommy.stubbington@dowjones.com
