HKMA finds signs of forex manipulation at banks
Traders at StanChart and Deutsche Bank accused of wrongdoing
The Hong Kong Monetary Authority (HKMA) today unveiled the results of its investigation into foreign exchange market manipulation, finding patchy evidence of wrongdoing.
Although there was "no evidence" of collusion among banks, the HKMA found two cases in which traders had tried to influence the market.
A Hong Kong-based trader with Standard Chartered was found to have requested a colleague make trades to influence an unidentified "Asian currency" benchmark fixing. There was, however,
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