DoJ pressing for guilty plea from Citibank unit in currency probe

April 2, 2015 8:10 PM

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April 2 (Reuters) - The U.S. Department of Justice is pressing for Citigroup Inc's main banking subsidiary to plead guilty to criminal charges that it manipulated the prices of foreign currencies, Bloomberg reported, citing two people familiar with the matter.

Government authorities have accused forex dealers of sharing confidential information about client orders and coordinating trades to boost their own profits. The foreign exchange benchmark they allegedly manipulated is used by asset managers and corporate treasurers to value their holdings.

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