ECB Governing Council member MAKHLOUF said indirect price effects are present but not intensifying, and we have not seen second-round effects.

Fed's LOGAN said inflation's failure to return toward the Fed's 2% target is 'unacceptable'.

In Friday Asian trade, USD/CHF fell for a third straight session to about 0.8220 as reduced safe-haven demand amid optimism over US-led diplomatic efforts weighed on the dollar. Downside may be capped by persistent franc weakness: a widening US–Swiss rate differential and Switzerland’s very low borrowing costs keep the franc an attractive funding currency, fuelling carry/arbitrage trades that sell CHF to buy higher-yielding assets. Swiss policymakers have also scaled back warnings of direct FX intervention, removing a potential support. Scotiabank strategists say the dollar’s risk profile has shifted materially and, given weakening fundamentals, see significant downside risk to the currency.