LONDON—The dollar dipped against other major currencies on Friday, ahead of U.S. Federal Reserve Chair Jerome Powell’s widely-anticipated speech at the Jackson Hole symposium.
Traders are looking for clues on the U.S. central bank’s tightening plans to combat rampant inflation when Powell speaks at 1400 GMT.
The dollar index—which tracks the greenback against six major currencies—has steadily gained over the past two weeks and is just shy of the two-decade peak of 109.29 it hit in mid-July.
After making small gains earlier in the session, it slipped a quarter of a percent on the day to 108.210….