Dollar Steady as Markets Await US Inflation Data and Jackson Hole

The US dollar traded in a narrow range in Asian markets on Wednesday (26/8) ahead of the release of US inflation data, which will be closely watched by markets ahead of the Jackson Hole Economic Symposium.

The US dollar index rose 0.1% to 98.988, near the upper end of its trading range over the past week, and remained around a three-month low.

Standard Chartered analysts said the US dollar could face short-term pressure due to the US Treasury's intervention strategy, which they considered misaligned.

The Australian dollar rose 0.3% to USD 0.7183, its highest level in three months, after data showed Australian core inflation rose faster than expected.