HSBC Holdings Plc, Europe's biggest bank by market value, and Citigroup Inc. suspended four traders as the probe into the alleged manipulation of currencies widens.
HSBC suspended two London-based foreign-exchange (FX) traders, according to a statement today. Citigroup put two spot traders who specialized in G-10 currencies on leave, according to a person with knowledge of the matter who asked not to be identified because the matter is private.
The moves bring the total number of traders known to be fired, suspended or put on leave to at least 17 since Bloomberg News reported in June that employees at some firms said they shared information about their positions with counterparts at other banks to try and manipulate the WM/Reuters rates, a key benchmark in the $5.3 trillion-a-day currency market.
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