JPMorgan Chase has put its chief currency dealer in London, Richard Usher, on leave, a source familiar with the matter said on Wednesday, and Bloomberg reported Citigroup had done the same with its chief dealer.
This mirrors developments at Standard Chartered, which has also put one of its senior forex traders on leave, according to a source familiar with the matter. Matt Gardiner joined StanChart from Swiss bank UBS only last month.
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JPMorgan is one of several banks cooperating with the Financial Conduct Authority in Britain and other regulators around the world looking into allegations of currency manipulation in the $5.3 trillion-a-day global market.
It was unclear whether JPMorgan's decision to put Usher on leave had anything to do with this investigation.