The Reserve Bank says the corporate watchdog is investigating a sharp jump by the Australian dollar that happened moments before Tuesday’s interest rate announcement.

The Australian Securities and Investments Commission is investigating after the Australian dollar strengthened and the share market began to drop at 1429 AEDT on Tuesday, seconds before the RBA’s 1430 AEDT announcement.

“ASIC cannot comment specifically, however as you may expect we would review any unusual trading as part of our routine monitoring and surveillance activities,” an ASIC spokeswoman said.

The RBA said it had verified that the rate decision was published exactly on time and according to appropriate procedures.

“ASIC has been made aware of the matter and is looking into it,” an RBA spokesman said.