Forex traders fid­dle on deals – probe

Weekend Argus (Saturday Edition) - - BUSINESS -

LON­DON: The global probe into al­leged ma­nip­u­la­tion of cur­rency rates has uncovered ev­i­dence of col­lu­sion be­tween traders to try to max­imise prof­its and min­imise losses, ac­cord­ing to the Wall Street Jour­nal.

Elec­tronic cha­t­room mes­sages ap­pear to show that traders from dif­fer­ent banks shared in­for­ma­tion about client or­ders and agreed to se­quence their own trades to take ad­van­tage, the au­thor­i­ta­tive fi­nan­cial pa­per re­ported yes­ter­day. JAKARTA/ SIN­GA­PORE: On rainy days in Jakarta, a canny street mer­chant like Emi can sell two dozen sa­chets of herbal cold cure To­lak An­gin to of­fice work­ers and labour­ers snif­fling by her road­side stall.

“Herbal medicine is good for the body be­cause it’s nat­u­ral,” says Emi, who goes by only one name. Laced with gin­ger, cloves and mint leaves, the tra­di­tional rem­edy Emi sells for 25 cents apiece is also good for busi­ness. The com­pany that

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