Currency hikes in London suggest manipulation, experts say

08/28/2013 | Bloomberg · Bloomberg

Fund managers and academic experts say a pattern of currency increases in London in the minutes before 4 p.m. on the last day of the month looks like an attempt at rate manipulation by dealers. Frequently, such abrupt surges are followed by a sudden reversal, and currencies revert to previous market rates. The practice is known as "banging the close."

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Bloomberg · Bloomberg

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