Spin-current order in anisotropic triangular antiferromagnets

We analyze instabilities of the collinear up-up-down state of a two-dimensional quantum spin-S spatially anisotropic triangular lattice antiferromagnet in a magnetic field. We find, within the large-S approximation, that near the end point of the plateau, the collinear state becomes unstable due to the condensation of two-magnon bound pairs rather than single magnons. The two-magnon instability leads to a novel two-dimensional vector chiral phase with alternating spin currents but no magnetic order in the direction transverse to the field. This phase breaks a discrete Z₂ symmetry but preserves a continuous U(1) one of rotations about the field axis. It possesses orbital antiferromagnetism and displays a magnetoelectric effect.