FX benchmark probe gathers pace as chief dealers placed on leave

Senior spot traders at JP Morgan, Citi and Standard Chartered have all been placed on leave, while Barclays, Deutsche Bank and UBS confirm they are conducting internal reviews in connection with alleged manipulation of forex benchmarks

Judge's gavel
Judgment day: top-tier banks are conducting internal reviews

Investigations into foreign exchange trading behaviour and the manipulation of benchmark exchange rates have gathered pace this week, as several top-tier banks have confirmed they are conducting internal reviews and at least three senior dealers have been placed on leave.

Richard Usher, head of G-10 spot trading for Europe, the Middle East and Africa at JP Morgan in London, is on leave from the bank, while Rohan Ramchandani, head of European spot trading at Citi in London, agreed this week to go

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