The Federal Reserve’s annual conference, hosted by the Kansas City Fed in Jackson Hole, Wyoming, began Thursday evening with a dinner for the central bankers, economists and journalists who have flown in from around the world.

Ahead of Federal Reserve Chair Jerome Powell's pivotal Jackson Hole address on Friday, cryptocurrency bettors are pricing in more than an 80% chance that the central bank cuts interest rates this year.

Gold prices fell on Thursday, pressured by a firmer dollar, while investors looked to the U.S. central bank's annual Jackson Hole symposium later in the day for further policy cues.

The U.S. dollar inched upward on Thursday, trading just below a one-week high as investors prepared for the Federal Reserve’s Jackson Hole symposium. By 04:40 ET (08:40 GMT), the Dollar Index, which tracks the greenback against six major currencies,