Interbank lending rates continue to fall

In the overnight markets, US dollar borrowing costs dropped from 2.19% to 1.94% yesterday, euro rates remained constant at 3.75%, and sterling fell from 5.37% to 5.18%.

Three-month dollar Libor decreased from 4.55% to 4.50%, euro moved from 5.17% to 5.08% and sterling dropped from 6.21% to 6.18%.

The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, fell to 4.28% as of 1240 BST from 4.34% yesterday. Used as a measure of perceived counterparty risk, the Ted

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