March 26, 2018 / 3:37 PM / a year ago

MONEY MARKETS-Dollar LIBOR/OIS narrows for first time in three weeks

NEW YORK, March 26 (Reuters) - A gauge of strain in the U.S. money markets on Monday retreated for the first time in three weeks even as borrowing costs edged higher in the wake of an interest rate increase from the Federal Reserve last Wednesday.

At 11:30 a.m. (1530 GMT GMT), the difference between the three-month dollar London interbank offered rate and three-month overnight indexed swap rate scaled back to 59.596 basis points from Friday’s 59.755 basis points which was the widest since May 2009, Reuters data showed. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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