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Currency Spikes Point to Possible Rate Manipulation

In the space of 20 minutes on the last Friday in June, the value of the U.S. dollar jumped 0.57 percent against its Canadian counterpart, the biggest move in a month. Such recurring spikes, along with a rise in transactions around the time WM/Reuters benchmarks are set, may provide evidence that traders are manipulating the rates used to value trillions of dollars of investments, fund managers and academics say.

Published Aug. 27, 2013

Source: Data compiled by Bloomberg

GRAPHIC: DAVID INGOLD / BLOOMBERG VISUAL DATA