Forex
Dollar Holds Steady Ahead of Jackson Hole
The US dollar held steady near its one-week high against major peers on Friday as investors waited for Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium to gauge his policy outlook.
Warsh is set to deliver his debut speech in Wyoming at 1400 GMT, and investors are looking for clues on monetary policy and the US Treasury's efforts to bring down long-term borrowing costs amid volatility in bond markets.
An update on the five task forces Warsh established at the start of his term is more likely, analysts said, given his reticence to offer guidance.
The euro and sterling were softer against the greenback, last trading at $1.165 and $1.358 respectively, while the yen weakened slightly to 159.44 per dollar.