The dollar held onto recent gains in early trade on Friday after U.S. and Chinese officials ended two days of trade talks without any major breakthroughs.

The talks between the two nations ended as their trade war escalated on Thursday after a new round of U.S. tariffs kicked in on $16 billion worth of imports from China, followed immediately by reciprocal tariffs from China.

As a safe haven currency, the dollar has benefited from fears of international trade turmoil in recent months.

Investor focus turned to the speech by Federal Reserve Chairman Jerome Powell to be held later on Friday at an annual meeting of central bankers at Jackson Hole, Wyoming.

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