Warsh Speech in Focus as Dollar Holds Near One-Week High

The US dollar held steady near a one-week high against major currencies on Friday as investors awaited Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium. The Dollar Index, which measures the US currency against a basket of six major peers, stood at 99.18, just below its one-week high of 99.26 reached on Thursday.

Warsh is scheduled to deliver his first speech in Wyoming at 14:00 GMT, and many market participants are looking for any comments he might make about monetary policy and the US Treasury Department's efforts to lower long-term borrowing costs following a period of volatility in bond markets.

Analysts believe Warsh will use the speech to provide an update on the five working groups he established at the beginning of his tenure to examine how the Federal Reserve operates, rather than providing any new guidance on monetary policy.

The euro and British pound both edged lower against the dollar, last trading at $1.165 and $1.358, respectively, while the yen weakened slightly to 159.44 per dollar as investors assessed inflation data from Tokyo.