Dollar and Asia FX Sit Still Ahead of Warsh's First Jackson Hole Speech as Fed Vice Chair

Currency markets across Asia were largely muted as traders waited for Kevin Warsh's debut speech as Federal Reserve vice chair at the Jackson Hole symposium. The dollar itself showed little movement against major peers in the same window. The exception was South Korea's won, which climbed to a 13-month high after the Bank of Korea raised interest rates. That move stood out against an otherwise quiet session for regional currencies, underscoring how much of the broader market is holding its position until Warsh speaks. Commentary ahead of the speech was split on what to expect: some framed it as a potential course correction on policy, others as a temporary detour that leaves the underlying rate path unchanged. Investors will parse Warsh's language for any signal on the pace of future rate moves, a subject on which he has not yet spoken publicly as vice chair.