Nov 6 (Reuters) – A key barometer of what banks allegation anniversary added to borrow dollars for three months rose on Tuesday in beforehand of the U.S. Federal Reserve’s two-day action affair after this week.
The London interbank offered amount to borrow three-month dollars belted up 0.2 base point to 2.59125 percent, afterward a 0.3 base point abatement on Monday.
Three-month LIBOR has risen 14 of the aftermost 15 sessions, prompted by the Fed’s amount hikes, ascent U.S. government borrowing and a shrinking Federal Reserve antithesis sheet.
LIBOR is the criterion amount for $200 abundance of dollar-denominated banking products, mainly absorption amount swaps and floating-rate loans.
Fed policymakers are not accepted to accession key concise absorption ante at their accessible affair on Wednesday and Thursday, but traders waited to see whether they action clues about accessible amount increases in December and in 2019.
Reporting by Richard Leong in New York; Editing by Jeffrey Benkoe
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