ASIC is investigating Australian dollar spikes before three RBA interest rate announcements

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The Australian Securities and Investment Commission (ASIC) is investigating whether there’s been a leak in the Reserve Bank’s interest rates announcement following a spike in the dollar just five seconds before the decision was revealed today.

It’s the third month in a row there’s been a jump in the dollar in the seconds before the RBA’s decision was made public.

In a statement late on Tuesday, the corporate regulator said:

ASIC confirms it will investigate a spike in the Australian dollar shortly before the Reserve Bank’s monetary policy decision today.

The investigation will look at trading in the dollar prior to the RBA’s interest rate decision statement at 2.30pm.

ASIC is also investigating foreign exchange movements shortly before the RBA’s announcements in February and March 2015.

Last month the spike occurred about 45 seconds before the RBA announcement.

Today the dollar jumped by nearly one cent to 0.7671 after the decision to leave interest rates on hold was revealed.

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