The probe of Libor manipulation is proving to be the tip of the iceberg as inquiries into assets from derivatives to foreign exchange show that if there’s a chance to rig benchmark rates in world markets, someone is usually willing to try.
Global regulators may start overseeing currency rates in a widening response to benchmark- rate setting scandals that began with revelations on the manipulation of Libor, two people familiar with the matter said.
U.S. stocks fell, after yesterday’s rally in the Standard & Poor’s 500 Index, as the International Monetary Fund cut its 2014 outlook for America and urged the central bank to carefully manage its exit from stimulus plans.
U.S. stocks fell, extending a weekly loss, as the International Monetary Fund cut its 2014 American growth forecast and warned that tapering of Federal Reserve stimulus may be risky if not handled properly. Treasuries and commodities rise, while the yen rallied.
The Canadian dollar touched the highest in a month versus its U.S. peer as oil, the nation’s largest export, advanced and investors bet stronger economic data may convince the Bank of Canada to raise interest rates.
European stocks rose, with the Stoxx Europe 600 Index paring its fourth weekly drop, as worse-than- forecast U.S. economic data fueled investor speculation that central banks won’t immediately pare stimulus measures.