Tag Archives: Currency Trading

Is Barclays Guilty Of Currency Trading Manipulation?

Barclays has added its name to a widening currency trading probe, which could become a scandal on a par with Libor manipulation. It has become the latest bank to admit it is facing an investigation into whether its staff were involved in attempts to manipulate global foreign exchange markets. The bank confirmed it was reviewing trading activity by its employees for several years, up to as recently as this August, as part of an international inquiry into alleged rigging of currency markets. The Financial Conduct Authority, the UK’s market regulator, is currently one of several organisations currently in the early stages of an investigation into the potential rigging. Barclays admission came as the bank reported its third-quarter results, which showed its statutory pre-tax profits for the last three months had increased by nearly £700m quarter-on-quarter to £351m. A strong shot of morning coffee may be in order for the folk at Barclays!

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