Commonwealth Bank of Australia note today

  • Say Yellen's speech is likely to taken as dovish by the market
  • CBA expects Yellen's speech to focus on FOMC policy options in the case of an economic downturn
  • Speech could disappoint those looking for more hawkish guidance
  • See the risks thus as bullish for AUD/USD

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More on Yellen's Jackson Hole speech here:

  • What to expect from Yellen's speech? Dovish ... Nothing ... Hawkish?
  • Jackson Hole: HSBC see Yellen in cautionary mode still
  • Why Jackson Hole will be a dud - BAML
  • Where will USDJPY finish up after Yellen at Jackson Hole?
  • ANZ on Yellen's speech at Jackson Hole
  • Its Jackson Hole week! Barclays on what to expect
  • Tough to find enthusiasm for Yellen's Jackson Hole speech (and that's the risk)
  • Don't hold your breath on Jackson Hole hike guidance say RBS