Ted and dollar Libor fall again

The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, fell today to 2.63% at 1520 GMT from 2.81% at close of trading yesterday.

In the overnight markets, US dollar borrowing costs dropped to 0.41% from 0.73% yesterday- encouraged by the US Federal Reserve cutting rates to 1%. Sterling fell from 4.74% to 4.63%. Euro rates increased slightly from 3.53% to 3.55%.

Three-month dollar Libor fell from 3.19% to 3.03%, while the euro dropped from 4.79% to 4.77% and

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