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Deutsche Bank ‘suspends forex trader’: report

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Deutsche Bank, Germany's biggest lender, has suspended "at least one" currency trader on suspicion of possible rigging of foreign exchange reference rates, the daily Die Welt reported Wednesday.

The trader worked in New York and dealt in Argentine pesos, the newspaper said, quoting people familiar with the investigation.

Deutsche Bank refused to comment on "individual cases", but a spokeswoman said that the bank "has received requests for information from regulatory authorities that are investigating trading in the foreign exchange market.

"The bank is cooperating with those investigations, and will take disciplinary action with regards to individuals if merited," she said.

In the past, Deutsche Bank suspended seven traders in a scandal over the rigging of interbank lending rates, in which the European Union slapped a massive 725-million-euro ($989 million) on the German group.

Deutsche Bank, Germany’s biggest lender, has suspended “at least one” currency trader on suspicion of possible rigging of foreign exchange reference rates, the daily Die Welt reported Wednesday.

The trader worked in New York and dealt in Argentine pesos, the newspaper said, quoting people familiar with the investigation.

Deutsche Bank refused to comment on “individual cases”, but a spokeswoman said that the bank “has received requests for information from regulatory authorities that are investigating trading in the foreign exchange market.

“The bank is cooperating with those investigations, and will take disciplinary action with regards to individuals if merited,” she said.

In the past, Deutsche Bank suspended seven traders in a scandal over the rigging of interbank lending rates, in which the European Union slapped a massive 725-million-euro ($989 million) on the German group.

AFP
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