The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium later this week for clues on the monetary policy path.

At Jackson Hole, Jerome Powell could lay out more overarching changes to the central bank’s dual mandate that will last long after his tenure is up next May and mark part of his legacy.

The Federal Reserve chairman is under bombardment from Donald Trump and battling an insurgency within the central bank as he heads to Jackson Hole.

Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole Economic Policy Symposium on Friday is being billed as a pivotal, "make-or-break" moment for the central bank's more dovish contingent.

Stocks start the week just shy of record highs, underpinned by a well-received corporate earnings season and hopes the Federal Reserve will soon start reducing official borrowing costs again. Investors are therefore keen that Friday’s keynote address by Fed Chair Jerome Powell at the Jackson Hole symposium will be suitably dovish.

Jerome Powell has the ideal platform Friday to deliver a clear signal the Federal Reserve is about to resume cutting interest rates. But the economy isn’t giving him an equally clear signal that now is the time.