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DOJ to announce currency manipulation settlement

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The Department of Justice will announce a currency manipulation settlement with some major international banks as early as Wednesday, with certain bank holding companies expected to plead guilty to rigging foreign exchange markets.

FX Traders on best behaviour

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When global bond investors lost more than $400bn in one week this month, Koon Chow, a Union Bancaire Privee currency strategist, asked sales contacts at banks about the impact on foreign-exchange markets. He didn’t get much help.

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Goldman Sachs Blink

Goldman agrees to end $1bn lawsuit with hedge fund

Goldman Sachs and an Australian hedge fund agreed to end a $1bn lawsuit over the sale of mortgage-linked securities, including an investment known as “Timberwolf” that became a symbol of the financial crisis after it was cited in internal e-mails released by U.S. lawmakers.