U.S. fed funds rate holds at two-year peak

[June 19, 2015]  NEW YORK (Reuters) - The U.S. federal funds rate, which banks charge each other to borrow excess reserves, averaged 0.14 percent for a third day on Thursday, holding at its highest level since May 2013, U.S. Federal Reserve data released Friday showed.

The fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.07 percent to 0.3125 percent, compared with Wednesday's 0.06 percent to 0.3125 percent.

(Reporting by Richard Leong)

[© 2015 Thomson Reuters. All rights reserved.]

Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.