Dollar Holds Firm Ahead of Warsh's Jackson Hole Speech

The US dollar has held firm near its one-week high against major peers on Friday as investors wait for clues from Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium.

Warsh's policy outlook is highly anticipated, and his speech could provide insights into inflation, monetary policy, and recent volatility in bond markets. However, some analysts are tempering expectations due to his opposition to providing explicit forward guidance on interest rates.

The euro and sterling have remained subdued near one-week lows against the greenback, with the dollar index rising 0.3% this week but still on track for a second straight monthly decline of 0.6%. The yen has weakened slightly to 159.55 per dollar but is headed for a 1.3% monthly rise.

Crypto markets have been relatively calm, with Bitcoin briefly climbing above $81,000 before paring gains. It's on track for its biggest monthly gain since late 2024, rising nearly 30% in August.