Dollar Steady Ahead of Warsh Speech; Fed Members Warn on Inflation
Dow Jones
Aug 28
0701 GMT - The U.S. dollar trades steady, awaiting new impetus from Federal Reserve Chairman Kevin Warsh's keynote speech at the Kansas City Fed's Jackson Hole symposium later on Friday. Other Fed speakers on the opening day of the symposium on Thursday "struck a notably hawkish tone" by warning on inflation, says Danske Bank's Jesper Fjarstedt in a note. However, the dollar has failed to firm, with all eyes on Warsh. Money markets continue to price a 65% probability of unchanged rates at the Sept. 16 Fed rate decision, according to LSEG. The DXY index, which measures the dollar against a basket of currencies, is stable at 99.178.
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