Jackson Hole position squaring in place - ANZ

Analysts at ANZ explained that caution and position-squaring ahead of Jackson Hole was the order of the day overnight. 

Key Quotes:

"The USD benefitted, the euro did not.

With both Fed and ECB heads Yellen and Draghi set to speak, eyes are on potential policy messages with regard to rate hike timing, reductions in balance sheets or shifts in reaction functions.

Financial stability concerns will be more of a focal point. Expect both to keep their options open, but with more of a ‘getting on with the job at hand’ message from the Fed."