Bank of England has no evidence it 'condoned' FX market manipulation

Andrew Bailey
Andrew Bailey

Bank of England deputy governor and head of the Prudential Regulation Authority Andrew Bailey today said it has yet to find proof that would substantiate allegations that a sub-group of its Foreign Exchange Joint Standing Committee (FXJSC) knew of attempts to manipulate daily exchange rate benchmarks.

Bailey, testifying before the UK parliament's Treasury Select Committee, said today the BoE "does not condone any form of market manipulation in any context whatsoever" - and that governor Mark

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