CURRENCY ACTIVITIES
Deutsche Bank rises after forex probe closed in US
Frankfurt — Shares in German lender Deutsche Bank enjoyed buoyant Frankfurt trading on Tuesday, after it launched a capital increase and said that US authorities had closed a probe into past manipulation of currency markets. Deutsche shares gained as much as 3.0% after the market opened, before slipping back to trade at €15.80, still up 2.9%, in morning trade. The lender said in its 2016 annual report published on Monday that the US justice department "has closed its criminal inquiry ‘concerning possible violations of federal criminal law in connection with the foreign exchange markets’". Global banks have paid out billions in fines for colluding to manipulate foreign exchange markets in recent years, including a settlement of almost $6bn by Barclays, JPMorgan Chase, Citicorp, UBS, Bank of America and the Royal Bank of Scotland in 2015. The justice department’s mothballing of its Deutsche probe comes after another US regulator, the Commodities Futures and Trading Commission, dropped...
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