ASIC is investigating suspicious movements in the Australian dollar just before the RBA’s interest rate announcement yesterday.
The RBA says the corporate watchdog has been made aware of the matter and is looking into it.
ASIC said it couldn’t comment but said it would review, as part of routine monitoring, unusual trading.
“We are aware of, and are reviewing the matter. However we do not intend providing a running update,” a spokesman told Business Insider
The RBA says it has verified that the monetary policy decision was published at exactly 2.30pm on Tuesday and according to the appropriate procedures.
Some brokers noticed a spike upwards in the dollar just before the RBA announced it was leaving cash rates on hold.
This was about 30 seconds before the RBA made public its decision. The official news saw the Australia dollar soar against the US dollar.
Last year, a former NAB banker and an Australian Bureau of Statistics worker pleaded guilty to $7 million in insider trading. Christopher Hill, working at the ABS in Canberra, would send official numbers on jobs, trade and retail data to Lukas Kamay before they were made public.