Alas, more RBA corruption concerns

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From Forexlive:

AUDUSD before RBAWhat is going on at the Reserve Bank of Australia? For the third month in a row, the Australian dollar moved at least 10 seconds before the official release. For the third month in a row, the RBA says it’s launching an investigation.

McCrann has gone quiet on the RBA after implying he had been leaked inside information before previous releases.

Forget investigating at this point. Start by revamping the entire way your announcements are released.

Good advice though I am filled with ennui at the thought of ASIC getting involved:

ASIC spokesman Andre Khoury said: “That was another movement, so yes, we will be looking at the movement of the Aussie dollar prior to the RBA’s announcement.

“ASIC is also investigating ­foreign exchange movements shortly before the RBA’s announcements in February and March 2015,” he added, but declined to comment further.

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How hard can this be? How many people know the result in advance? Yet we are still waiting for the investigation into open RBA corruption in its note printing businesses five years after the fact so if this is a leak then they’re onto a good thing.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.