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Citigroup Hit Hardest as EU Fines Banks $1.2 Billion Over FX

  • EU says traders colluded in online chats on trading strategies
  • RBS, JPMorgan, Barclays, MUFG also fined; UBS escapes penalty
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Citigroup was hit with the heaviest fine. Bloomberg’s Aoife White reports from Brussels.Source: Bloomberg
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Citigroup Inc., Royal Bank of Scotland Group Plc and JPMorgan Chase & Co. are among five banks that agreed to pay European Union fines totaling 1.07 billion euros ($1.2 billion) for colluding on foreign-exchange trading strategies.