FX benchmark probe gathers pace as chief dealers placed on leave

Judge's gavel

Investigations into foreign exchange trading behaviour and the manipulation of benchmark exchange rates have gathered pace this week, as several top-tier banks have confirmed they are conducting internal reviews and at least three senior dealers have been placed on leave.

Richard Usher, head of G-10 spot trading for Europe, the Middle East and Africa at JP Morgan in London, is on leave from the bank, while Rohan Ramchandani, head of European spot trading at Citi in London, agreed yesterday to go

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