London
AN independent report into the Bank of England's (BOE) role in the global currency market has raised questions about the relationship between commercial bank dealers and brokers for the first time since regulators began investigating trading practices.
The report of an inquiry led by commercial lawyer Anthony Grabiner shows how an unidentified trader raised a range of concerns with the British central bank three years ago, including over the role of brokers in deals struck at the "London fix".
Investigations by international regulators into the US$5.3 trillion-a-day foreign exchange market have focused on the daily fix, the one-minute window at 4pm when global benchmark currency rates are...
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