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Three-month US dollar Libor rises further to 0.60310%

[LONDON] The three-month dollar Libor rate settled at 0.60310 per cent on Wednesday, its highest level in 6-1/2 years, extending a rise driven by the Federal Reserve's first interest rate hike in almost a decade last week.

The London interbank offered rate on dollar-denominated loans among banks for three months settled at 0.59435 per cent in the previous day.

Libor is a benchmark rate for US$350 trillion in financial products worldwide.