As suggested in the CFTC Commitments of Traders report in the week ended August 25, NET SHORT for USD Index futures added +258 to 7 773 contracts. Speculative long positions declined -5 005 contracts and short positions fell -4 747 contracts. There can be more downside to greenback. Fed Chair Jerome Powell, at the annual Jackson Hole Symposium, announced that the central bank has moved to average inflation targeting. Moreover, it will be more responsive to the shortfall from maximum employment, rather than deviation from the maximum level. Both signaled a dovish shift to the Fed’s monetary policy. Concerning European currencies, NET LENGTH in EUR futures jumped +14 809 contracts, to 211 752. GBP futures’NET LENGTH slipped -904 contracted to 5 600 for the week.