Lloyds launches internal forex trading review

Lloyds Banking Group confirmed this morning that it has launched an internal review into its own currency trading over recent years, as several big banks find themselves amidst foreign exchange manipulation probes.

"We are aware that a number of regulatory and enforcement authorities are investigating foreign exchange trading and, as a result, we believe it is prudent to review our own foreign exchange trading over recent years and have commenced such a review," the bank said in a statement today.

The foreign exchange (forex) industry is the latest to be investigated by regulators in a long line that began with the Libor scandal last year. Other big banks have announced the suspension of employees in connection with probes into the manipulation of the $5 trillion-a-day market.

Lloyds has not said it is being formally investigated by any regulator, and has not announced the suspension of any employees.

The lender added, "we will, of course, report anything we find to the relevant authorities and assist them as requested."