Three-mth stg Libor up for first time in 2 weeks

LONDON (Reuters) - The interbank cost of borrowing three-month sterling and euro funds rose on Friday, showing continuing strain in money markets, but overnight sterling rates fell, a day after the Bank of England cut interest rates.

Three-month sterling Libor rose to 5.92750 percent from 5.92375 percent on Thursday, according to data from the British Bankers' Association, their first gain in almost two weeks and despite the BoE set to provide three-month funds next week.

Overnight sterling rates fell to 5.08875 percent <GBPONFSR=> from 5.15250 percent.

Three-month euro Libor rates fixed at 4.74750 percent <EUR3MFSR=> from 4.74375 percent, rising for a ninth consecutive week as banks remained reluctant to lend to each other despite central banks' measures to improve liquidity and boost confidence in the financial system.

The ECB left rates on hold on Thursday at 4.0 percent as widely expected and ECB President Jean-Claude Trichet said any interpretation that the inflation-fighting central bank had changed its view on rates would be wrong.

Overnight dollar rates fell to 2.40750 percent <USDONFSR=> from 2.43250 percent ahead of a widely expected U.S. Federal Reserve interest rate cut on April 30.

Below is a table of the London interbank offered rates (Libor) for dollar, euro and sterling funds in percentage terms, with the previous session's rates in parentheses.

DOLLAR EURO STERLING O/n 2.40750 (2.43250) 4.02000 (4.03125) 5.08875 (5.15250) 1 wk 2.75125 (2.79250) 4.22563 (4.22625) 5.11750 (5.16750) 2 wk 2.74625 (2.77625) 4.26000 (4.26000) 5.25875 (5.30000) 1 mo 2.71594 (2.71750) 4.36375 (4.35938) 5.52250 (5.55250) 2 mo 2.71375 (2.71313) 4.55563 (4.55000) 5.75750 (5.78000) 3 mo 2.71313 (2.71000) 4.74750 (4.74375) 5.92750 (5.92375)

For RICs to the above rates, go to <0#LIBORSUPERRICS>.