RBC Capital Markets has suspended three currency traders following an internal investigation. RBC has handed the results of the investigation to U.K. regulator the Financial Services Authority. David Cliff, spokesman for the FSA in London, declined comment. Jane D'Amico, spokeswoman for RBC, confirmed the suspensions and said there had been no financial impact for RBC's clients or the bank's results. D'Amico denied to name the traders.
Rival traders said the suspended trio was trying to trigger an options barrier by forcing a move in the New Zealand dollar spot rate. The three are reportedly spot traders and the trade is believed to have taken place toward the end of last year.
