22.08.201702:31:00UTC+00Dollar Climbs as Focus on Jackson Hole Meeting

The dollar rose versus a basket of currencies on Tuesday, with traders paying attention to the annual central banking conference in Jackson Hole for clues into the outlook for monetary policy.

The dollar index climbed 0.1 percent to 93.169.

The near-term focus will be on the speech by U.S. Federal Reserve Chair Janet Yellen on Friday at the Fed's annual central banking conference in Jackson Hole, Wyoming.

The greenback was up 0.3 percent to 109.26 yen, retreating from the previous week's low near 108.60 yen, which was the U.S. currency's weakest level in nearly four months.

The dollar has recently been impeded by renewed investor concerns regarding the Trump administration's ability to proceed with its economic policy agenda.

Doubts on the prospects for another Fed interest rate increase in 2017, at a time of subdued U.S. inflation, have added pressure on the greenback.

The euro fell 0.1 percent to $1.1808.

The common currency previously reached a 2-½ year peak near $1.1910 earlier this month. It has managed to rise from a three-week low of $1.1662 notched last Thursday.

Investors also await comments from European Central Bank President Mario Draghi on Friday. It remains uncertain whether Draghi's remarks will provide new stimulus for euro purchasing.

According to sources familiar with the matter, Draghi will not provide a new policy message at the symposium. This could potentially reduce expectations for the ECB to begin outlining the course out of its monetary stimulus.