The U.S. dollar drifted on Thursday as investors fretted about the Federal Reserve's independence after yet another attack from President Donald Trump ahead of remarks from Chair Jerome Powell later this week that could influence the outlook for rates.

Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,

Financial stability is at risk. Equity valuations are stretched, margin debt is over $1 trillion, and the S&P 500 trades at dot-com level valuations. Rate cuts could spark a stock market melt-up and trigger a bond market revolt, destabilizing the system.

Federal Reserve Chair Jerome Powell will give a speech on the economic outlook and the Fed's review of its policy framework next Friday at the Kansas City Fed's annual central banking conference in 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.

U.S. stocks closed a listless day nearly flat as investors wait for key retail earnings and an annual Fed conference for direction this week.

President Donald Trump resumed attacks on Federal Reserve Chair Jerome Powell, this time claiming he is hurting the housing industry with high rates.

Gold was little changed on Thursday as investors awaited cues on the Federal Reserve's policy outlook ahead of its annual Jackson Hole symposium, which starts later in the day.