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00:00:00
the E. U. has fined five banks just over one billion euros about one point two billion dollars for rigging foreign exchange markets Barclays Citigroup JPMorgan royal bank of Scotland and Japan's M. U. F. G. the lenders in trouble Switzerland's UBS Dodge define as its alerted authorities to what was going on the European Commission says the bank's forms to cartels the goal was to manipulate the market for eleven currencies including the US dollar and the euro competition watchdogs say most of the trade is near each other but one lived in the county of Essex just outside London they met on the train commute into work the cartels will dubbed Essex express and three way been on a split between them they operated from late two thousand and seven two of the twenty thirteen now JP Morgan all B. S. and M. U. F. G. say they've tightened controls to stop any recurrence Barclays and city group declines to comment