Brazil antitrust watchdog Cade opened on Thursday an investigation over alleged currency rigging by a group of 15 global banks, the first of its kind in one of the world's busiest foreign exchange markets. In a statement, Cade said the banks colluded to influence benchmark currency rates in Brazil by aligning positions and pushing transactions in a way that deterred competitors from the market between 2007 and 2013, at least. Traders who described themselves as "The Cartel" or "The Mafia" used online chat rooms to fix their positions ahead of market trades. The Brazilian investigation comes weeks after six of the ... (full story)