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 central bankers' symposium later this week for clues on the path of monetary policy.

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.

U.S. stocks dipped on Tuesday as investors gear up for what Federal Reserve chair Jerome Powell will say about the path of interest rates at a key conference later in the week. The Nasdaq slid more than 1% to its lowest in over two weeks as megacaps Nvidia and Microsoft lost 3.

Investors are tracking talks aimed at ending the Russia-Ukraine war and awaiting Federal Reserve Chair Jerome Powell's speech at Jackson Hole at the end of the week.