Check out the wrap from Europe on Thursday and the USD weakness:

Same again during US time:

And its not much different here in Asia today. Major FX continued to gain against the USD. There was no fresh news of impact to drive the move, it was a continuation.

On the data front we had reasonable retail sales (April) from Australia and dreadful industrial profits data from China (April), where they dropped 8.5% m/m (March was +12.2% m/m for comparison) amidst widespread coronavirus restrictions, surging raw material input prices, ongoing supply chain disruption all curbing economic activity. The -8.5% is the largest drop since the dark COVID days in China of March 2020.

Japan published Tokyo inflation data. Bank of Japan Governor Kuroda followed up the data by saying he expects core inflation to stick around 2% for the next 12 months or so unless there is a sharp fall in energy prices. Kuroda added he does not see inflation stably higher unless wages rise.

USD index slides further: