Dollar Holds Steady Ahead of Warsh's Jackson Hole Debut

The US dollar held steady near a one-week high against major currencies on Friday as investors waited for Federal Reserve chair Kevin Warsh's speech at the Jackson Hole symposium to gauge his policy outlook.

The euro and sterling were subdued near one-week lows against the greenback, last trading at $1.1652 and $1.3597 respectively, despite both being on track for a second straight monthly gain.

The yen was little changed at 159.34 per dollar, having given up some of its intervention-driven gains, but still headed for a 1.3% monthly rise.

Market participants are keenly awaiting Warsh's debut speech in Jackson Hole, Wyoming, for clues on how he would approach monetary policy and tame inflation, although expectations were tempered by his opposition to providing explicit forward guidance on rates.