Hong Kong now investigating a number of banks over FX trading

Magnifying Glass

Hong Kong's de facto central bank said on Tuesday that it is investigating a number of banks as part of the global probe into alleged manipulation of foreign exchange markets, as investigations into the $5.3tril-a-day-market escalate.

Reuters reports that the Hong Kong Monetary Authority (HKMA) said in a statement to Reuters that it is requiring several banks to conduct independent reviews of their foreign exchange operations and send it the results.

'The reviews are in progress', an HKMA spokeswoman said in the statement. 'The HKMA is also liaising with relevant overseas bank supervisors on the matter'.

To access the complete Reuters article hit the link below:

Hong Kong says investigating a number of banks on alleged FX manipulation

Swiss, UK watchdogs step up scrutiny on forex traders

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