Most Asian currencies were set for weekly losses on Friday, with the Philippine peso drifting to its lowest level in nearly four weeks and the Indonesian rupiah hovering near a record low, as stalled U.S.-Iran peace talks underpinned the dollar.
Most stock markets in the region were headed for weekly gains after U.S. President Donald Trump extended the ceasefire with Iran indefinitely, though stalled talks and the fragility of the truce kept investor optimism in check.
The MSCI gauge of EM Asia stocks inched higher and was on course for a third consecutive weekly rise. An MSCI gauge of global EM currencies inched lower and was anchored near its lowest since April 13.
The Philippine peso weakened 0.5% to 60.755 per dollar, its lowest since late March. The currency has lost nearly 2% so far this week, its worst performance in seven weeks. The Philippine central bank raised its policy rate to 4.50% on Thursday to tame inflation.
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