Warsh's Jackson Hole Debut Sets Stage for Fed Policy Clarity
The US dollar remained steady near its one-week high against major currencies on Friday as investors waited for Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium to gauge his policy outlook.
The euro and sterling were subdued near one-week lows against the greenback, with the euro last trading at $1.1652 and the pound at $1.3597, respectively.
The yen was little changed at 159.34 per dollar after surrendering part of its intervention-driven gains, but it still headed for a 1.3% monthly rise.
Market participants are eagerly anticipating Warsh's debut speech in Jackson Hole for clues on how he would approach monetary policy and tackle inflation, although expectations were tempered by his opposition to providing explicit forward guidance on rates.