Forex: The Next Big Financial Scandal?
A new financial scandal may be on the horizon. It is claimed that traders at some of the world's biggest banks have been rigging the biggest financial market of them all - the foreign exchange market. It is where the values of the world's currencies are set. If the claims are proved, the banks could be fined billions of dollars and be open to claims of damages from across the world, according to the specialist financial litigation lawyer Daniel Spendlove.
We discuss why some countries prize currency weakness over currency strength with Stephanie Flanders of J P Morgan Asset Management. And, we visit the Indian town of Surat, the centre of one of the most glamorous industries in the world - the diamond trade.