Federal Reserve Probing Banks for Possible Forex Fixing

  • by:
  • 08/21/2022

Federal Reserve Probing Banks for Possible Forex Fixing (Bloomberg)

The Federal Reserve is investigating whether traders at the world’s biggest banks rigged benchmark currency rates, raising the risk that any parties found guilty of wrongdoing will be penalized for lax controls. The Fed, which supervises U.S. bank holding companies, is among authorities from London to Washington probing whether traders shared information that may have led to price manipulation in the $5.3 trillion-a-day foreign-exchange market to maximize their profits, a person with direct knowledge of the matter told Bloomberg. The source asked not to be named because the matter is confidential.

Image:
ADVERTISEMENT

Opinion

View All

JACK POSOBIEC: The government goes after MAGA and Trump while pedophilia in Hollywood is 'perfectly fine'

"Why would Nickelodeon employ people who had been already convicted of child sex abuse?"...

UK medical body claims preventing teachers from 'affirming' child sex change will 'cause distress' to students

The medical body told the UK Department of Education it does not think parents should always know if ...

Evan Gershkovich's detention in Russia extended over espionage allegations

The US ambassador to Russia, Lynne Tracy, maintained that "the accusations against Evan are categoric...

Women workers at greater risk of being replaced by AI: study

7.9 million jobs would be lost in the "worst-case scenario."...