Dollar Libor falls further

Three-month dollar borrowing costs fell to 2.22% from 2.39% yesterday. Sterling Libor fell from 4.15% to 4.12%, while three-month Euro borrowing rates fell from 4.19% to 4.15%.In the overnight markets, dollar Libor and sterling rates remained constant from yesterday at 0.4% and 3% respectively. Euro Libor fell from 3.01% to 2.98%.The Ted spread, a measure of perceived counterparty risk, closed yesterday at 2.15%. At 12:45pm London time today, the Ted spread was down to 2.11%.The Chicago Boar