Follow live coverage and analysis of the Fed chairman's remarks at the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, on Friday.

The Indian rupee weakened further on Friday, extending its late-session slide from the previous day, as the dollar rose ahead of a speech by Federal Reserve Chair Jerome Powell and on renewed concerns of steep U.

Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

The economic dilemma comes on top of an extraordinary, high-pressure political situation the Fed chair faces, as Trump relentlessly demands lower rates.

The U.S. dollar firmed on Friday and was poised for a strong weekly performance as investors reassessed rate cut wagers ahead of an eagerly anticipated speech from Federal Reserve Chair Jerome Powell that could shape the near-term monetary policy path.

The Fed unveiled a strategy five years ago for worries that the economy outgrew. Now, it will formally reset.

"No American thinks it is appropriate that she serve during this time with a cloud hanging over her,” Ed Martin wrote in a letter to the Fed chair.

The Indian rupee is expected to open largely flat to slightly weaker on Friday, with near-term sentiment titled bearish ahead of Federal Reserve Chair Jerome Powell's speech post market that may offer cues on the interest rate outlook.