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Foreign exchange manipulation allegations erode public opinion
Foreign exchange manipulation allegations erode public opinion

Tourists wouldn't notice it: Any manipulation of foreign currency exchange rates might add a fraction of a cent in paying for a meal at a Parisian bistro or booking a tour at the Great Wall of China. But multiply that by $5 trillion — the amount that trades every day on the massive foreign currency markets — and it adds up to serious money for currency traders and even problems for multinational corporations. Allegations Wednesday that major U.S. and European banks manipulated foreign exchange rates gave another serious black eye to the banking industry and another blow to public confidence in the financial system. In a cross-border sweep, U.S., British and Swiss...

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