Just when the bankers and financiers of the world thought it was
safe to begin trading again in the shark infested waters of high
finance after showing their contrition with the payment of
multi-billion dollar fines to various regulators worldwide
following the debacle of the Libor Scandal, a further scandal is
looming which has the potential to dwarf Libor and lead to further
collateral investigations into other asset classes across the board
- welcome to the year of the Forex!
It's not unfortunately an investigation into the Australian
brewing industry that has done so much to damage the taste buds of
numerous people across the world but instead it's the
abbreviation for the Foreign Exchange Rate Mechanism that is
currently under investigation by a host of regulators around the
around (including our own Financial Conduct Authority) as suspicion
grows that the rate used to govern transactions, estimated to total
approximately $5.3 trillion dollars per day, has been
