Deutsche Bank fires three currency traders amid regulatory probe

Deutsche Bank has fired three New York-based currency traders, in the latest sign that a probe into alleged manipulation of foreign exchange markets is gathering steam, according to a source familiar with the situation.

Diego Moraiz, Robert Wallden and Christopher Fahy were terminated by the bank, which told trading floor staff of the development on Tuesday, according to the source.

The three traders could not be reached for comment.

“Deutsche Bank has received requests for information from regulatory authorities that are investigating trading in the foreign exchange market,” a bank spokeswoman said in an e-mailed statement.

“The bank is co-operating with those investigations, and will take disciplinary action with regards to individuals if merited.”

The terminations come as authorities around the world, including Britain’s Financial Conduct Authority and the US Justice Department, investigate possible manipulation in the US$5.3 trillion-a-day global forex market.