Investors drove the euro lower against the dollar this week as they prepared for the Federal Reserve's Jackson Hole symposium, which could provide key insights into the timing of rate cuts. The single currency has been under pressure as markets anticipate the central bank may begin reducing its monthly bond purchases earlier than expected. The dollar index has surged to its highest level in nearly nine months, boosting the greenback's appeal. At around 1.1645 in the European session on Tuesday, the EUR/USD pair had declined 0.2 percent and fell for four straight sessions. This move stems from strong U.S. economic indicators and higher Treasury yields. Traders are now fixated on the Jackson Hole event, set for virtual sessions from August 26 to 28, where Chair Jerome Powell will speak on Friday. He may outline the Fed's plan to trim its $120 billion in monthly asset buys, potentially starting in September or November. A hawkish tilt from Powell could strengthen the dollar further, while a more dovish message could ease pressure on the euro. The euro's weakness boosts competitiveness for European goods exporters but elevates costs for imported items and could sustain higher inflation in the eurozone. The ECB has stayed accommodative, pledging to maintain low rates until inflation reaches its 2 percent target sustainably. On the technical front, the 1.1650 mark acts as key support; a breach could lead to 1.1600. Upside resistance is at 1.1700 and the 200-day moving average at 1.1770. The euro's fall underscores dollar strength coming into the Jackson Hole gathering, with Powell's remarks expected to guide EUR/USD movements in the coming days.