Australian Regulator Tracing Currency Trades Before RBA Decision
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Australia’s securities regulator is tracking transactions that caused a sudden jump in the local currency ahead of the Reserve Bank of Australia’s interest-rate decision and is looking at potential sources for any leak of the information as part of its investigation.
The Australian dollar surged more than 0.6 percent in the minute before the central bank unexpectedly refrained from cutting rates March 3. That prompted Treasurer Joe Hockey to contact RBA Governor Glenn Stevens to express his concern about the sudden move, and the Australian Securities and Investments Commission to look into the matter.