[MARKET ANALYSIS] FX markets are uneventful as participants look to Jackson Hole for Fed policy clues

DXY: Flat Lacks direction amid quiet FX trade as participants await Fed Chair Warsh's inaugural Jackson Hole keynote address, and with the Fed Chair seen to be under pressure to clarify his views on interest rates, which he has been tight-lipped about and has refrained from providing explicit forward guidance. Nonetheless, there were recent comments from other Fed officials, but they did little to shift the dial, with hawkish dissenter Hammack stating that policy needs to be restricted and expects slow progress on inflation, while 2028 voter Collins said the recent PCE report did not change the modal outlook and that current monetary policy is restrictive, which will likely lead to a gradual disinflation. EUR/USD: Flat Trades little changed with the single currency unmoved by the recent uneventful ECB minutes, which noted that it was argued that a rate increase would not address the underlying cause of the rise in inflation. GBP/USD: Flat Struggles for direction in the absence of pertinent catalysts and with resistance seen at the 1.3600 level. USD/JPY: Flat Price action is choppy and remains at the 159.00 handle with little reaction seen following the in-line Tokyo CPI data. Antipodeans: AUD/USD +0.1% / NZD/USD +0.2% Gradually edged higher amid ongoing rate hike expectations for both the RBA and RBNZ.