Investigations into suspicious trades in the Australian dollar before the Reserve Bank's February and March interest rate decision have not uncovered anything improper.
In the minutes of its April board meeting, released Tuesday, the RBA said the movements could be because of automated trades and the fact there was very little trade in the Australian dollar just before the bank's interest rate announcement.
"The illiquid conditions that existed in the foreign exchange market at that time meant that small trades could move the price by relatively large amounts," the RBA said.
The RBA said that the Australian Securities and Investments Commission has "not identified any evidence of procedural lapses or conduct that could have led to the early release of relevant information".
The RBA referred the matter to ASIC after the Australian dollar surged seconds before the March rate decision.
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