Warsh's Jackson Hole Debut Triggers Wait-and-See Mode for Dollar

The US dollar held steady near its one-week high against major peers on Friday as investors waited for Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium.

Warsh's debut speech is expected to provide clues on his approach to monetary policy, inflation, and recent volatility in bond markets. However, market participants remain cautious due to his opposition to providing explicit forward guidance on rates.

The euro and sterling were subdued near one-week lows against the greenback, last at $1.1645 and $1.3588, respectively. The yen weakened slightly to 159.55 per dollar, but was still headed for a 1.3% monthly rise.