Dollar Steady Ahead of Jackson Hole as Yen Holds Firm After Himino Remarks

The US dollar traded in a narrow range on Thursday ahead of the Jackson Hole symposium. The euro was up 0.07% against the US dollar at $1.1657, while the British pound traded at $1.3592.

The yen held steady after BOJ Deputy Governor Ryozo Himino said timely rate hikes would help avoid an inflation spike that could force abrupt tightening later.

However, Himino stopped short of language similar to that used ahead of the BOJ's January 2025 meeting to flag a rate hike. Market participants had been looking for clues on the likelihood of a September rate hike and the scale and pace of further tightening.