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Barclays suspends currency traders

Source BBC News@

Barclays signBarclays said "various regulatory and enforcement authorities" have been in touch

UK bank Barclays has suspended several traders as part of a probe into suggestions that currency markets could have been rigged, the BBC has learnt.

The BBC's chief economics correspondent, Hugh Pym, said there was no suggestion of wrongdoing and that Barclays had declined to comment.

On Thursday, Royal Bank of Scotland suspended two traders in connection with the investigation.

The Financial Conduct Authority (FCA) probe is said to be at an early stage.

Regulators around the world, including the UK's FCA, are investigating currency trading.

Barclays, RBS, Citigroup, Deutsche Bank and UBS have all confirmed that regulators have been in contact with them over the currency probe.

The global foreign exchange market is worth more than $3 trillion a day, and London is the most important hub, accounting for about 40% of all foreign exchange trading.

On Wednesday, Barclays said: "Various regulatory and enforcement authorities have indicated they are investigating foreign-exchange trading, including possible attempts to manipulate certain benchmark currency exchange rates or engage in other activities that would benefit their trading positions.

"The investigations appear to involve multiple market participants in various countries.

"Barclays Bank has received inquiries from certain of these authorities related to their particular investigations, is reviewing its foreign-exchange trading covering a several-year period through August 2013 and is co-operating with the relevant authorities in their investigations."

Đăng ký: Tieng Anh Vui

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