Dollar Holds Steady Ahead of Warsh's Jackson Hole Speech
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's speech was closely watched by market participants, who hoped it would provide clues about future monetary policy decisions. The euro and sterling were subdued near one-week lows against the greenback, trading at $1.1652 and $1.3597 respectively. Both currencies remained on track for a second straight monthly gain.
The dollar's stability was due in part to investors' cautious approach ahead of Warsh's speech. The market is eagerly awaiting any hints about potential changes to monetary policy, which could impact the value of major currencies.