Ted spread moves up

The Ted spread, which tracks the difference between three-month Libor and US Treasury bills, began to climb again, reaching 2.65% at 1230 BST today from 2.57% at close of trading yesterday.

In the overnight markets, US dollar borrowing costs moved up to 1.27% from 1.21% yesterday. Sterling climbed to 4.75% from 4.55% while euro rates decreased slightly to 3.55% from 3.56%.

Three-month dollar Libor fell from 3.53% to 3.52%, while the euro remained stable at 4.91% and sterling dropped from 6%

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