 Australia Dollar recovers broadly today as markets cheered Scott Morrison's win in the Liberal Party's leadership challenge. But upside is so far limited. New Zealand Dollar is trading as the second strongest one for today so far, followed by Dollar. On the other hand, Yen is under broad based pressure, together with Canadian Dollar. In other markets, Asian stocks are mixed with Nikkei trading up 0.71% after data showed CPI stalled in July. Hong Kong HSI, China SSE and Singapore Strait Times are all down, -0.69%, -0.35% and -0.62% respective. Gold continues to gyrate lower towards 1180. For the week, Euro is trading as the strongest one, followed by Swiss Franc and Sterling. Nonetheless, the Pound's position is a bit vulnerable as it suffered steep selling overnight. Yen is trading as the weakest, followed by Australian Dollar and Canadian Dollar. Fed chair Jerome Powell's speech at the Jackson Hole symposium will catch a lot of attention. We're not expecting anything drastic from there, given Powell's composed and balanced personality. Also, Fed is pretty much on auto-pilot now regarding monetary policies. There are two areas that might still trigger market volatility. That is, will there be early end of balance sheet reduction? And, will Fed return to pre-crisis channel system? More in Jackson Hole Symposium Preview: Two Questions on Fed's Monetary Policy Technically, GBP/USD's break of 1.2811 minor support overnight indicates completion of rebound from 1.2661. Further decline is now in favor to retest this 1.2661 low. The Pound will be a focus today as EUR/GBP is set to test 0.9030 resistance while GBP/CHF will test 1.2589 support. USD/JPY's break of 111.42 indicates near term reversal and we'd likely see further upside ahead. USD/CAD also defended medium term channel support and could be heading back to 1.3173 resistance. | 
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