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

It has risen 0.3% this week but remains on track for a second straight monthly decline of 0.7% after U.S. Treasury Secretary Scott Bessent said the Treasury would increase buybacks of longer-dated bonds. That has fuelled concerns that efforts to suppress borrowing costs could debase the dollar.

Market participants are now keenly awaiting Warsh's debut speech in Jackson Hole, Wyoming, for clues on how he would approach monetary policy and tame inflation, although those expectations were tempered by his opposition to providing explicit forward guidance on rates.

Some other Fed officials reiterated on Thursday their ongoing concerns about U.S. inflation and signalled they were open to rate hikes.

"Uncertainty over the Fed's reaction function and concerns that policymakers may be placing less emphasis on inflation control have increased market focus on Chair Warsh's Jackson Hole remarks," Sim Moh Siong, FX strategist at OCBC, said in a note.