German daily Die Welt, citing people familiar
with the investigations, said the trader worked in New York and
traded Argentine pesos.
According to sources at the bank, emails were found that led to
suspicion that rates had possibly been manipulated, the paper
said in a story published in its Wednesday edition. There are
indications there may be further cases of possible manipulation,
Die Welt added.
Deutsche Bank said it would not comment on individuals. In a
statement, it said it was cooperating with investigations and
would take disciplinary measures with regard to individuals if
Last year, Britain's Financial Conduct Authority began a formal
investigation into possible manipulation in the $5.3
trillion-a-day global FX market. The U.S. Justice Department is
also engaged in an active investigation of possible manipulation
of the market, the world's largest.
Benchmark foreign exchange rates, often referred to as fixes,
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.
Deutsche Bank, Citigroup <C.N>, UBS <UBSN.VX>, Barclays <BARC.L>
and Royal Bank of Scotland <RBS.L> have all said they were
cooperating with regulators scrutinizing the market. Citigroup,
RBS, JP Morgan <JPM.N> and Standard Chartered <STAN.L> have put
currency traders on leave.
(Reporting by Victoria Bryan, Thomas
Atkins and Paritosh Bansal)
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