By Daniel Hunter

The Bank of America is the latest bank to set aside hundreds of millions of dollars to cover the costs of an investigation into alleged currency fixing.

The bank has set aside $400m after "advanced discussions with certain US banking regulatory agencies to resolve matters", it said in a statement.

It means that the bank's losses for the third-quarter have tripled from its previous estimates of $70m to $232m.

Over the past two weeks, the likes of JP Morgan, Deutsche Bank, Barclays, HSBC and RBS have collectively set aside billions of pounds/dollars.

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