Traders US probe

THREE currency traders dubbed the Cartel, who allegedly plotted to manipulate markets, have agreed to face US charges.

Richard Usher of JP Morgan, Rohan Ramchandani of Citigroup and Chris Ashton of Barclays will attend a New York court later this month after lengthy haggling between the trio’s lawyers and prosecutors.

Lawyers for the three men insisted they had done nothing wrong.

Prosecutors in the States claim the trio used internet chat rooms to discuss rigging worldwide currency trades so they could boost their profits.