Federal Reserve Said to Probe Banks Over Forex Fixing | Forex Factory

  • Federal Reserve Said to Probe Banks Over Forex Fixing

    From bloomberg.com

    The Federal Reserve is investigating whether traders at the world’s biggest banks rigged benchmark currency rates, raising the risk that firms will be penalized for lax controls as regulators look for wrongdoing. The Fed, which supervises U.S. bank holding companies, is among authorities from London to Washington probing whether traders shared information that may have let them manipulate prices in the $5.3 trillion-a-day foreign-exchange market to maximize their profits, said a person with direct knowledge of the matter, asking not to be named because it’s confidential. “The Fed has discretion whether to and ... (full story)

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Ill-b-back
Jan 13, 2014 10:15pm
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Quoting sliqdaddy91
Lol some of the biased viewpoints on this site against the US and USD are hilarious.

I have been saying it for some time now, but I will reiterate my stance, I am a dollar bull. The Europeans and Commodities remain inflated, and I think 2014 could be a difficult year for many of them. The US economy is strong and outpacing the rest of the world. I have had no problems selling the USD in the past few months, but I think the times are coming for Dollar strength.

There was a gent on here that blew up on me (won't say names) when I begged to...
I'd prefer you did name names, so that when we hit 1.73 and beyond, FF will know it was my projection
lol...
Reply
Ill-b-back
Jan 13, 2014 10:34pm
Permalink
Quoting sliqdaddy91
Lol some of the biased viewpoints on this site against the US and USD are hilarious.

I have been saying it for some time now, but I will reiterate my stance, I am a dollar bull. The Europeans and Commodities remain inflated, and I think 2014 could be a difficult year for many of them. The US economy is strong and outpacing the rest of the world. I have had no problems selling the USD in the past few months, but I think the times are coming for Dollar strength.

There was a gent on here that blew up on me (won't say names) when I begged to...
If the US economy is so strong, why is your participation rate imploding towards record lows?
Why is the Fed still printing and tripling the money supply?
Why are they committed to record low interest rate for an extended period of time.
Why is the debt ceiling continually being lifted just so your Govt can keep functioning?
Why is the lender of last resort having to step in to keep interest rates low?
I don't think it's the views (against) the US that are biased, but rather the pro US views, fuelled by patriotism.
Reply
redfx1989
Jan 13, 2014 10:15pm
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if FED die.. world die.
you maybe gonna found 1kg tomato become 500USD. so u can trade your laptop to make juice. how if like that..?

think about world crisis..
think how many country, how many billion human, live at bad and poor condition even no crosis, and think how they gonna become more bad if crisis happen.

many child wanna hold real gun just like at modern war far game.
many of them gonna hold their pant, if real gun was shooted.
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pt49
Jan 13, 2014 4:39am
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OH DAM... there goes ForexMentors "London Close Trade"
Reply
NJaNeer
Jan 13, 2014 1:48pm
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Quoting boon2
FED most corrupt central bank in the world!

I can't wait until the hole US is blown up ROFL
So much negative US talk on here. Yes, government is corrupt and so is yours. History will repeat no matter who is the strongest nation at the time. Every strong empire has fallen from corruption. So, get off the soap box and go fix the corruption in your government before pointing fingers.
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cuchuflito
Jan 13, 2014 2:42am
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Fed owns the shop, he´s the only "authority", "allowed", to manipulate.
Naughty naughty little banks trying to mess with big big boy.
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111ForexGuru
Jan 13, 2014 1:44am
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"Forex Fixing" ?? is this term new? Was it never present? Will it ever end?
Forex fixing is an integral part of the currency trading scheme and will always persist no matter how much policing is done. We have to integrate this into our trading to be profitable.
We have seen in the past about the penalties imposed/settlements done but it continues to grow. So lets just forget it. Its only the policing authorities that benefit with such probes and retail traders have no benefit whatsoever.
No need not be happy as markets will still be manipulated like any gambling game.
Reply
boon2
Jan 13, 2014 6:47am
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Quoting Guest
I don't think that's going to be a good thing for anyone, particularly if (as some think), the destruction of the US economy is the first step to a global fascist order.
I would be interested to know what would follow if the US Govt came to rely more or less solely on the Federal Reserve Bank to fund its debt/deficits. Then once it becomes clear they cannot repay the debt, who is the worlds largest creditor.
Who owns America?
That's an easy question, China owns the US LOL

Soon no country will deal with the US as they have the most corrupt, dysfunctional government in the world along with the FED and it's only a matter of time before US self destruct LOL
Reply
Aaronfb
Jan 13, 2014 7:56am
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Quoting boon2
That's an easy question, China owns the US LOL

Soon no country will deal with the US as they have the most corrupt, dysfunctional government in the world along with the FED and it's only a matter of time before US self destruct LOL
You're dreaming, the US will be around long after we are dead. China does not own the US, they own some of our debt.
Reply
sliqdaddy91
Jan 13, 2014 10:39am
Permalink
Lol some of the biased viewpoints on this site against the US and USD are hilarious.

I have been saying it for some time now, but I will reiterate my stance, I am a dollar bull. The Europeans and Commodities remain inflated, and I think 2014 could be a difficult year for many of them. The US economy is strong and outpacing the rest of the world. I have had no problems selling the USD in the past few months, but I think the times are coming for Dollar strength.

There was a gent on here that blew up on me (won't say names) when I begged to differ regarding his cable projection (something absurd, ~1.75+), additionally many others took offense when I said the USD will march across the board as we go on.

It's still too soon to say, but many currencies are looking toppy against the USD at these levels. Will have to wait for a bit more confirmation, but these last few weeks have been nice : )

Cheers lets see how we get on
Reply
Spreadbetter
Jan 14, 2014 4:52am
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Is that irony, hypocrisy or cognitive dissonance you're revealing, or a combination of all three? I think you'll find that being a position trader is way outside the scope of your (debatable) skill set.

Moreover, successful FX traders tend to suppress their bias and concentrate on the now, preferring to to watch how fundamental policy and high impact news events determine the direction of a major currency. Therefore their trades, rather than being based on irrational and emotional beliefs based on supposition, simply follow price.



Quoting sliqdaddy91
Lol some of the biased viewpoints on this site against the US and USD are hilarious.

I have been saying it for some time now, but I will reiterate my stance, I am a dollar bull. The Europeans and Commodities remain inflated, and I think 2014 could be a difficult year for many of them. The US economy is strong and outpacing the rest of the world. I have had no problems selling the USD in the past few months, but I think the times are coming for Dollar strength.

There was a gent on here that blew up on me (won't say names) when I begged to...
Reply
boon2
Jan 14, 2014 5:45am
Permalink
Quoting NJaNeer
So much negative US talk on here. Yes, government is corrupt and so is yours. History will repeat no matter who is the strongest nation at the time. Every strong empire has fallen from corruption. So, get off the soap box and go fix the corruption in your government before pointing fingers.
Funny thing is you don't know where I'm from because if you did you would know that I don't need to fix the corruption in my government ROFL

Here's a hint of where I'm from, one of the few country's that the central bank is actually owned by the citizens of the country and work in the best interest of the country and is a non for profit organization!

Unlike the US where corruption thrives and your central bank is privately owned so it never will work for the best interest of it's citizens and only think of them self and their profit's

US will fall and I will laugh my gut's out!

BTW are you one of the 1 in 5 on food stamps? LOL

And for all you that think just because I'm anti US does not mean I don't profit from USD strength as I will trade anything given the signal's I require to trade!
Reply
boon2
Jan 14, 2014 6:05am
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Quoting Guest
Look few yrs back, media said USD will collapse but gold will never.. but just look at how gold collapse, if you believe that the FED will collapse you must be on the 95% that goes on the other side of the big boys trades..
1st of all I don't take any notice of media as I'm a 99% technical trader when it comes to FX

2nd FED will collapse along with the whole US that is corrupt and a USD mass manipulator!

3rd I trade off my own analysis and don't care who's on other side of my trade as I still profit off wannabe trader's like you! ROFL
Reply
boon2
Jan 14, 2014 7:30am
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Quoting Aaronfb
You're dreaming, the US will be around long after we are dead. China does not own the US, they own some of our debt.
No I'm not dreaming but sleep typing!

Yea you are right US will still be around when we are dead but 95% of you will be living on food stamps LOL

Yes US debt china will recover one way or the other! ROFL
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ljudozerec
Jan 13, 2014 1:23am
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duh !

is there anyone so naïve that think this is not the case?

maybe federal reserve
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aslamhammad
Jan 13, 2014 4:21am
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usd/cad pretty manipulated at the moment ...
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boon2
Jan 13, 2014 5:52am
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FED most corrupt central bank in the world!

I can't wait until the hole US is blown up ROFL
Reply
Trader#9C48
Jan 13, 2014 6:13am
Permalink
Quoting boon2
FED most corrupt central bank in the world!

I can't wait until the hole US is blown up ROFL
I don't think that's going to be a good thing for anyone, particularly if (as some think), the destruction of the US economy is the first step to a global fascist order.
I would be interested to know what would follow if the US Govt came to rely more or less solely on the Federal Reserve Bank to fund its debt/deficits. Then once it becomes clear they cannot repay the debt, who is the worlds largest creditor.
Who owns America?
Reply
Trader#6196
Jan 13, 2014 9:09am
Permalink
Quoting boon2
That's an easy question, China owns the US LOL

Soon no country will deal with the US as they have the most corrupt, dysfunctional government in the world along with the FED and it's only a matter of time before US self destruct LOL

Look few yrs back, media said USD will collapse but gold will never.. but just look at how gold collapse, if you believe that the FED will collapse you must be on the 95% that goes on the other side of the big boys trades..
Reply
Trader#D12D
Jan 13, 2014 2:51pm
Permalink
Quoting boon2
That's an easy question, China owns the US LOL

Soon no country will deal with the US as they have the most corrupt, dysfunctional government in the world along with the FED and it's only a matter of time before US self destruct LOL
And China would be bankrupt. S**t rolls down hill.
Reply
Trader#AF20
Jan 13, 2014 10:48pm
Permalink
So many confident of US... I believe that in the past, many would claim that US can never land itself in such a huge debt, not even mentioning the fact that it owes China a huge chunk of it.

NO ONE knows what and how the market will turn out to be.. THAT is the only fact.
Reply
Trader#CE4C
Jan 14, 2014 6:39am
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FED itself should be the first in line for screening, trying to act like they never knew whats happening, f****** rouches
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