Market Takes Hawkish Turn as Fed Raises Hike Odds

The market has taken a hawkish turn after Fed Chair Warsh's speech at Jackson Hole, increasing the odds of not just one September rate hike but another before year-end.

The Bank of Japan is set to meet against the backdrop of disappointing Q2 growth in Japan, with consumption contracting by 0.1% despite real wage gains and capex shrinking for the third time in four quarters.

The British Pound has risen for the first time in back-to-back months this year in August, reaching $1.3675 - its highest level in six months.

The Australian dollar has appreciated by almost 7.3% against the US dollar through late August, helped by three rate hikes in the first half and the prospect of another before year-end.