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| Patrick Chappatte for the International Herald Tribune, July 18, 2012 |
If you think the LIBOR fraud were difficult to understand, wait until the alegation of this one are proven to be true. FINMA - Switzerland financial regulator - is investigating some swiss banks for possible manipulation of FX rates, among which the WM/Reuters FX rates, used as benchmark for "90 percent of currency derivatives contracts, such as swaps and options". It is getting harder and harder to even joke about it :)
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