Euro Stands Firm Ahead of Powell's Jackson Hole Speech

The euro is trading steadily above $1.1650 against the U.S. dollar as investors await guidance from Fed Chair Jerome Powell's speech at the Jackson Hole Economic Policy Symposium.

This level has held multiple times over the past two weeks, with the EUR/USD pair currently trading around $1.1660, up 0.1% on the day.

Analysts note that while a dovish outcome from Jackson Hole could see the euro extend its gains above $1.1700, the market has already priced in a significant amount of tapering, limiting the dollar's upside.