Swiss Regulators Probe Accusations of Foreign Currency Manipulation

Banks around the world could be implicated

Swiss authorities said they're investigating several banks for allegedly colluding to manipulate the $5.3 trillion-a-day foreign exchange market.

The Swiss Financial Market Supervisory Authority "is coordinating closely with authorities in other countries as multiple banks around the world are potentially implicated," it said in a statement today. Separately, the competition commission said it opened a preliminary probe on Sept. 30 after receiving allegations of collusion among banks to manipulate some foreign-exchange rates.