On August 28, Friday, the dollar remained near a one-week high against major currencies as investors stayed cautious ahead of Federal Reserve Chair Waller's upcoming speech at the Jackson Hole Global Central Bank Conference. With U.S. inflation consistently above the 2% target level, traders have priced in at least one rate hike of 25 basis points from the Fed this year, which has supported the dollar's performance in recent trading days. The market generally hopes to gain more insights into monetary policy and the U.S. Treasury's efforts to lower long-term financing costs from Waller's speech, especially given the recent volatility in the bond market. However, analysts believe that since Waller has been reluctant to provide clear forward guidance, he is more likely to discuss the latest developments of the five special working groups established during his early tenure at the Fed. Volkmar Baur, a foreign exchange and commodities analyst at Commerzbank, noted in a report that Waller has repeatedly emphasized in recent weeks that the Fed's 2% inflation target is non-negotiable, but he has never explicitly mentioned the PCE price index in this context. Baur suggests that the Fed may at least be considering adopting different measures of inflation. He stated that if Waller signals something similar, it could weaken market expectations for further rate hikes and be interpreted as a dovish signal, potentially putting pressure on the dollar.