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Lloyds suspends currency trader amid foreign exchange probe

Lloyds Banking Group has suspended a senior currency trader amid an internal probe into suspected foreign exchange trade fixing, according to Bloomberg.

It is reported that Martin Chantree, currency trader with the bank for nine years, was placed on leave yesterday.

The FCA is currently investigating foreign exchange manipulation. FCA chief executive Martin Wheatley yesterday told the Treasury select committee that 10 banks had already submitted evidence in the investigation. 

The FCA’s investigation into possible currency trade manipulation has been likened to probes into Libor fixing.

A spokesman for Lloyds says: “It is Group policy not to comment on individual employees.”

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