First LIBOR, Now Currency Exchanges

And the reasons clients continue to trust big banks are? Bloomberg News reports that some of the biggest banks globally have been manipulating benchmark foreign-exchange rates to profit from moves they subsequently make for clients. The $4.7 trillion-a-day foreign-exchange market (FX market) is one of the least regulated. The rigging of these rates affects the value of trillions of dollars in funds, including pensions and savings accounts.