FRANKFURT, Jan 15 (Reuters) - Deutsche Bank hassuspended at least one currency trader on suspicion ofmanipulating benchmark forex rates, a German paper reported.
German daily Die Welt, citing people familiar with theinvestigations, said the trader worked in New York and tradedArgentine pesos.
According to sources at the bank, emails were found that ledto suspicion that rates had possibly been manipulated, the papersaid in a story published in its Wednesday edition. There areindications there may be further cases of possible manipulation,Die Welt added.
Deutsche Bank said it would not comment on individuals. In astatement, it said it was cooperating with investigations andwould take disciplinary measures with regard to individuals ifmerited.
Last year, Britain's Financial Conduct Authority began aformal investigation into possible manipulation in the $5.3trillion-a-day global FX market. The U.S. Justice Department isalso engaged in an active investigation of possible manipulationof the market, the world's largest.
Benchmark foreign exchange rates, often referred to asfixes, are a cornerstone of global financial markets, used toprice trillions of dollars worth of investments and deals andrelied upon by companies, investors and central banks.
Deutsche Bank, Citigroup, UBS, Barclays and Royal Bank of Scotland have all said theywere cooperating with regulators scrutinizing the market.Citigroup, RBS, JP Morgan and Standard Chartered have put currency traders on leave.