The euro rose back above $1.15 from the lows of the week. The European Union is continuing intensive trade talks with the US and is “making progress,” according to EU Economy Commissioner Valdis Dombrovskis.

Asian stocks rose, with benchmarks in South Korea, Hong Kong, and China outperforming. The Kospi topped 3,000 points for the first time since January 2022. S&P equity index futures slipped around 0.2%.

Japanese stocks lagged Asian peers. A key consumer inflation measure accelerated to a fresh two-year high. Japan's top trade negotiator says the country won't fixate on the July 9 deadline for reciprocal tariffs to return to higher levels.

Japan's Finance Ministry will seek feedback from market players later Friday over its planned reductions to super-long bond issuance as it takes steps to quell market turbulence.

A number of Australia's biggest investors say they are cutting their holdings of US Treasuries, citing concern over US tariff and tax plans. State-owned Funds SA, which oversees the equivalent of $30 billion, has switched to an underweight position in US sovereign debt. At the same time, Queensland Investment Corp., with assets of $86b, said some of its clients are reducing their Treasury exposure.