A sharp fall in sterling just before surprisingly weak June inflation data was released has reignited concern that confidential official information is being leaked to market traders.
The controversy comes just weeks after strict new rules on access to Office for National Statistics (ONS) data was unveiled on July 1. The new rules followed investigations by Reuters and the Wall Street Journal that showed unusual pre-release trading patterns in the pound.
Sterling sank half a cent against the dollar in the minutes before the consumer price index (CPI) was released on Tuesday, suggesting some traders might have got wind of the highly price-sensitive information before official release.
The market had been expecting CPI to hold steady at 2.9 percent, but falling petrol prices and a big drop in the cost of recreational services including toys and data processing equipment saw the June reading slide to 2.6 percent.
As investors calculated that lower inflation made an interest rate rise less likely, the pound fell to $1.3013, having reached a high of $1.3126 half an hour before the release.
Suspicions were raised because sterling had already slipped to $1.3072 by 9.20am local time, when the ONS published the numbers.
Several traders speaking anonymously to Reuters expressed alarm.
