Citi, HSBC suspend traders amid FX probe

|By:, SA News Editor

As U.S. investigators arrive in London to work alongside U.K. counterparts, Citigroup (C -0.3%) and HSBC today both suspended foreign exchange traders, reports Reuters.

One Citi trader is based in NYC, the other in London, and both are G10 spot currency traders. A bank spokesman says they've been sent on "leave." Reuters' source at Citi says they were suspended after an investigation into chat room communications.

The two HSBC traders are based in London, and one of them - at least in the past - was head of the bank's G10 spot FX desk.

The four are the latest in a line of suspensions and now firings as Citi one week ago let go its head of European spot FX trading.