German Watchdog To Visit Deutsche In London In FX Probe: Source

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German Watchdog To Visit Deutsche In London In FX Probe: Source

by Wochit 1:05 mins

German Watchdog To Visit Deutsche In London In FX Probe: Source

by Wochit 1:05 mins

Representatives from Germany's financial watchdog Bafin will visit the London offices of Deutsche Bank, the country's biggest lender, as it steps up investigations into alleged currency market manipulation, a source familiar with the process said on Monday. This follows Deutsche's suspension last week of traders in New York, and mirrors the arrival of U.S. regulators in London last week at Citigroup's London headquarters, marking an escalation in the global probe.Edward Hadas, Economics editor of Reuters "BreakingViews," says Citigroup is just "not doing what it's supposed to." Benchmark foreign exchange rates, or daily fixings, are a cornerstone of global financial markets, used to price trillions of dollars worth of investments and deals and relied upon by companies, investors and central banks.

Wochit

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