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Multinational: Forex probes strengthen

 |  November 13, 2013

Investigations by several government regulators into the global foreign exchange market have reportedly expanded to include up to – and perhaps more than – 15 of the world’s largest banks, say reports.

Most recently, the UK’s Financial Conduct Authority requested information from the banks, reports said Wednesday. The lenders are being investigated for alleged forex manipulation, including US dollar-Euro trading.

The probes are reportedly covering whether traders ta the banks rigged exchange rates through secret collusion and trading.

Among the confirmed banks being investigated are JPMorgan Chase, Citigroup, Barclays, UBS, Goldman Sachs, Deutsche Bank and RBS.

Full Content: USA Today

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