May 16, 2018 / 1:00 PM / a year ago

MONEY MARKETS-Dollar Libor rises for first time in five days

NEW YORK, May 16 (Reuters) - A key gauge on what banks charge each other to borrow dollars rose on Wednesday for the first time in five days, reflecting renewed concerns whether the Federal Reserve would quicken its pace of interest rate increases.

The London interbank offered rate for three-month dollars was fixed at 2.32563 percent, up 0.5 basis point from Tuesday.

LIBOR is a benchmark for about $200 trillion of dollar-denominated interest rate swaps and other financial products.

Three-month LIBOR had fallen for four straight sessions, matching a streak last seen in August 2017.

LIBOR has risen this year on expectations of further rate hikes from the Fed and growing borrowing from the U.S. government to finance its budget deficit. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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