FX Action: The dollar has traded modestly firmer against most currencies as market participants anticipate Fed Chair Powell's address at the Jackson Hole Symposium later today, evidently not overly hopeful he will signal a clear and strong commitment to sustained rate cuts following hawkish-leaving remarks by Fed members George and Harker yesterday, and the not-so-dovish FOMC minutes from the day before. The narrow trade-weighted USD index (DXY) rose 0.3%, to 98.44, which is just 1 pip shy of three-week high terrain, while EUR-USD printed a three-week low at 1.1155. USD-JPY carved out a four-day high at 106.67. Japanese CPI held at a two-year low of 0.5% y/y in July, as expected, remaining well off the BoJ's 2.0% target. Elsewhere, sterling settled back some after yesterday posting its biggest single day rally since March 13 against the dollar, rising by over 1%. Cable ebbed to the lower 1.2200s after printing a high at 1.2273, which is the loftiest level seen since late July. The pair remains up by just over 1% on the week so far, setting up the first back-to-back up weeks since February. NZD-USD rallied to the upper 0.6300s, extending a rebound from the fresh 10-year low that was seen yesterday at 0.6361. RBNZ Governor Orr said that quantitative easing is "far from our central scenario," while arguing that the recent 50 bps cut reduced the chances of having to do more farther down the road. The yuan hit a low of 7.0992 against the dollar, the weakest since March 2008, while the PBoC set the reference rate at 7.0572, also the lowest since 2008 although firmer than markets had been anticipating.