Dollar Near One-Week High as Traders Await Warsh Rate Signals at Jackson Hole 2026

TLDR

• The U.S. dollar held near a one-week high ahead of Fed Chair Kevin Warsh’s Jackson Hole speech
• Warsh was set to speak at 1400 GMT on Friday, with markets watching closely for rate signals
• Traders are pricing in at least one 25 basis point rate hike this year due to persistent inflation
• Bitcoin dipped to $79,715 but is on track for a 26.7% monthly gain, its best since late 2024
• The euro and sterling both fell slightly, heading for their first weekly drop in a month

The U.S. dollar held near a one-week high on Friday as traders waited for Federal Reserve Chairman Kevin Warsh to speak at the Jackson Hole symposium in Wyoming.

The dollar index sat at 99.18, just below Thursday’s high of 99.26. Markets were largely inactive ahead of the 1400 GMT speech.

Inflation has stayed above the Fed’s 2% target. That has pushed traders to price in at least one 25 basis point rate hike this year, which has supported the dollar in recent days.

Warsh is known for offering little forward guidance. Analysts said he was more likely to give an update on the five internal Fed task forces he set up at the start of his term than to signal a rate move.

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