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U.S. repo rate rises ahead of Fed operations

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By Reuters

NEWYORK (Reuters) – The interest rate on U.S. overnight repurchase agreements ticked higher early Tuesday in advance of two operations to be conducted by the New York Federal Reserve which may add up to $105 billion (84.3 billion pounds) in temporary cash in the U.S. banking system.

The overnight repurchase agreement (repo) rate was last <USONRP=> quoted at 2.00%-2.08%, compared with 1.95% late on Monday, according to Refinitiv data.

(Reporting by Richard Leong; Editing by Raissa Kasolowsky)