Fed funds rate slips from two-year peak

[June 22, 2015]  NEW YORK (Reuters) - The U.S. federal funds rate, which banks charge each other to borrow excess reserves, averaged 0.13 percent on Friday from a two-year peak of 0.14 percent the previous day, U.S. Federal Reserve data released Monday showed.

The fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.05 percent to 0.3125 percent, compared with Thursday's 0.07 percent to 0.3125 percent.

(Reporting by Richard Leong)

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