The probe into FX market manipulation continues to gather steam; the Wall Street Journal reports that the Commodity Futures Trading Commission (CFTC) has asked major currency-dealing banks (like Deutsche and Citi) “to trawl through their records (emails and IMs)… and hand over any evidence of wrongdoing”.
This adds to the work being done by officials in Hong Kong, Switzerland and the U.K.
At issue is the the 4 p.m. London time foreign-exchange “fixes” – regulators are looking for evidence of collusion to price the fix at rates to the benefit of traders.
There’s more at the Journal: CFTC Asked Major Forex Banks to Scrutinize Records (The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline).
