The USD recovered in Asia-Pacific dealing.....>

FOREX: The USD recovered in Asia-Pacific dealing after an initial knee jerk

lower on the back of a relatively balanced set of FOMC meeting minutes which

highlighted EM, trade & housing as areas of risk. - The main driver behind the

move was the Australian political situation, with PM Turnbull caught in a

leadership crisis. Many of his senior ministers have tendered their

resignations, stating that he no longer has the support of the Liberal Party.

Parliament has been adjourned until Sep 10, with a runoff between Scott Morison

and Peter Dutton the likely outcome at present. AUD/USD registered a low of

$0.7283, breaching the Aug 20 low ($0.7296), and the 50% retracement of the move

from $0.7203 to $0.7381 ($0.7292). Ultimately bears need to break Friday's low

($0.7253) to regain control. The USD gained across the board as a result.

- USD/ZAR extended to fresh highs after U.S. President Trump tweeted that "I

have asked Secretary of State Mike Pompeo to closely study the South Africa land

and farm seizures and expropriations and the large scale killing of farmers.

South African Government is now seizing land from white farmers."

- Focus Thursday turns to the ECB meeting & flash PMI's from across the globe.