Dollar flat near one-week high as investors await Warsh’s Jackson Hole debut

The U.S. dollar held steady near a one-week high against major currencies on Friday, while investors awaited Federal Reserve Chair Kevin Warsh's debut speech at the Jackson Hole symposium. The euro and British pound were near one-week lows against the greenback, while the yen remained stable after losing some gains from intervention.

The dollar index, measuring the currency against six peers, was flat at 99.13, having gained 0.3% this week but on track for a 0.7% monthly decline. The Treasury's plan to buy back longer-dated bonds has raised concerns of a weakening dollar. Market participants are eagerly anticipating Warsh's remarks in Jackson Hole for clues on his stance on monetary policy and inflation.

Some Fed officials have expressed ongoing worries about U.S. inflation and signaled openness to rate hikes, increasing the market's focus on Warsh's speech. Traders now give a 35% chance of a rate hike at the Fed's September meeting, rising to 75% by December. Bitcoin gained 0.5% to $80,620.33, and the Australian and New Zealand dollars both rose slightly as investors bet on future rate hikes.

Meanwhile, the Canadian dollar was flat and on track for a second month of decline due to rising trade tensions with the U.S.