The corporate watchdog has been unable to uncover any irregularities surrounding a spike in the Australian dollar moments before the Reserve Bank's surprise interest rate cut in February. The Australian Securities & Investments Commission (ASIC) says preliminary findings from its investigation reveal that moves in the dollar before the rate cut announcement were a result of normal market operations. The watchdog noted there was a reduction in trading liquidity before the announcement, something which it said was normal ahead of an RBA announcement to financial markets. "Much of the trading reviewed to date was ... (full story)