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Bigger than Libor? Forex probe hangs over banks

November 22, 2013

Noted:
*Harbinger: 23 countries begin setting up swap lines to bypass dollar
*Australia caught spying on Indonesia

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Yet another dark cloud is looming over global banks as officials examine their behavior in the massive foreign exchange market, threatening to deal a new blow to earnings and reputations.

Regulators in the U.S., Europe and Asia are in the early stages of investigating whether traders at the world’s top banks manipulated foreign exchange benchmarks to profit at the expense of their clients.

Read more HERE.

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