A Bank of England speech that moved markets was reportedly leaked to a currency trader in a private chat
A speech given by the Bank of England's deputy governor in July 2017 was leaked to a trader one hour and 16 minutes ahead of time,The Times article claims that the Bank of England's accredited market news provider, Livesquawk, leaked the draft of the speech to a foreign-exchange trader.
The pound rose initially 0.4% against the dollar on July 2017 as traders expected BOE's Broadbent to vote for a rise in interest rates. However, the currency later fell by 0.2% against the dollar as the deputy governor offered no clues on the course of monetary policy. This"Anyone with early sight of the speech would have been able to trade the moves for profit.
Mr Littlestone, however, told The Times that Livesquawk's staff accidentally posted this speech in a private chat used for market commentary with the Livesquawk team and he realized it was done in error and did not "reprint, pass on any information in the speech or act in any way that would be deemed to be detrimental to the nature of Livesquawk's association with embargoed data or news.
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