Swiss anti-trust watchdog probes banks over forex manipulation

Reuters

ZURICH (Reuters) - Switzerland's competition commission WEKO on Friday said it had opened a preliminary investigation into potential manipulation of foreign exchange markets by banks.

WEKO said it had opened a probe against various banks on September 30 after learning about potentially anti-competitive discussions between banks.

"Through discussions they are said to have manipulated various exchange rates," the statement said.

WEKO declined to name the banks under investigation.

Earlier on Friday, Switzerland's financial markets regulator said it was investigating several Swiss banks in connection with the possible manipulation of foreign exchange rates.

(Reporting by Edward Taylor; Editing by Carmel Crimmins)

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