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Local and international banks, including Barclays, JP Morgan and HSBC, were accused by South Africa's competition watchdog of rigging the rand, using online chat rooms to coordinate fictitious bids and offers. The regulator has called for fines of 10% of in-country annual turnover, and the banks are likely to face prosecution at the Competition Tribunal.
The allegations concern market integrity and may add to pressure on the rand through political and credit risk. Feed buyers exposed to rand-dollar costs should note the risk, though the direct price effect is small.
bbc.comFeb 16, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
