HSBC trader bailed in US currency exchange fraud probe

A top trader at banking giant HSBC has been released on bail after he was arrested by FBI agents and charged with fraudulently rigging a $3.5bn currency exchange deal.

Mark Johnson, the bank's head of global foreign exchange cash trading, was arrested by federal agents at New York's JFK International Airport on Tuesday evening as the US Department of Justice continues its long-running probe into foreign exchange trading.