The euro held steady compared to the dollar in Asia after moving wildly on Thursday after the European Central Bank's surprise decision to restart government debt buys from November to support a flagging economy.
At the exact short term, guarded optimism about a settlement to the U.S.-China commerce warfare ought to continue to push Treasury yields higher and weigh safe-haven currencies.
"We have managed to scale our pessimism about U.S.-China trade discussions, and it is a reassuring element for the time being," said Takuya Kanda, general director of study in Gaitame.com Research Institute in Tokyo.
"Once we begin to concentrate on the Fed's rate cut, the senses of this marketplace will change. Treasury yields and dollar/yen appearance to be high and are very likely to begin drifting lower."
The buck was a bit higher at 108.170 yen, hovering close to a six-week high versus the Western money.
The buck has also attracted support from a spike in U.S. Treasury yields, together with the standard 10-year yield in a five-week high.
Both sides are preparing for new rounds of talks aimed at controlling a trade war, that has dragged on for at least a year, roiling financial markets and threatening to drive different markets into recession.
The yen, broadly considered safe-haven money, will rise when commerce worries interrupt but reverses course and weaken when concern about transaction friction eases.
Trading can be subdued in Asia on Friday since China's financial markets have been closed for a public holiday.
The rate cut has been widely anticipated. However, the restored bond buys were a surprise. Still, the only currency was able to claw back losses because the ECB's comprehensive stimulus package now changes the spotlight to coverage meetings next week in the Fed and the BOJ.
Financial markets are fully priced in a rate cut in the Fed's Sept. 17-18 coverage assembly.
The Fed cut prices in July for the first time because of 2008.
The BOJ can also be simplifying ways to deepen negative rates of interest at minimum cost to industrial banks since it believes embracing it as a first policy response to a declining market, sources knowledgeable about the lender's thinking stated.
The BOJ's following policy choice is due Sept. 19.