Asian stocks advanced as a global equity rally gained fresh vigor on strong US economic data. The dollar slipped after Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month, while Mary Daly said she still thinks it's reasonable to plan on two interest-rate cuts this year.

The ECB can delay its final rate cut until December without investors concluding easing is over, a Bloomberg survey showed. A majority continues to expect the last quarter-point reduction will come in September after a pause next week. Still, half of respondents think the ECB can sit out three meetings before traders assume borrowing costs are at their floor.

A gauge of the dollar edged lower Friday after Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month. Earlier, economically sensitive shares outperformed after solid retail sales and a drop in jobless claims, with the S&P 500 briefly topping 6,300 and closing at a record high.

Congress delivered a watershed victory for the crypto industry Thursday, passing the first federal legislation to regulate stablecoins and clearing the way for broader use of the technology in everyday finance.

Foreign investor holdings of Treasuries climbed in May, led by a surge in Canadian purchases, indicating a resilient overseas demand for US government securities in the face of concerns over the effects of US policies.