The US dollar declined against major currencies early Friday as market focus shifts to Federal Reserve Chairman Jerome Powell’s upcoming keynote address at the Jackson Hole Symposium. Historically, this event has been a platform for signaling potential shifts in monetary policy.

With recent soft employment data and expected benchmark revisions, investors are eager for clues on whether the Federal Open Market Committee will cut rates by 25 basis points at their September meeting. Comments from other Fed officials throughout the day may also influence market sentiment.

Key economic data releases include new home sales for July and the Kansas City Fed’s services index for August.