There is lots of chatter about this story from Bloomberg:
Currency Spikes at 4 P.M. in London Provide Rigging Clues
The recurring spikes take place at the same time financial benchmarks known as the WM/Reuters (TRI) rates are set based on those trades. Now fund managers and scholars say the patterns look like an attempt by currency dealers to manipulate the rates, distorting the value of trillions of dollars of investments in funds that track global indexes.
The problem is especially bad on the final Friday of the month but you can bet that after this report, it will quiet down with bank traders looking over their shoulders.
