During today's Asian trading, the US dollar rose slightly against most major currencies, but was on track for a weekly drop. The ICE index, which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), rose by 0.07%. The dollar index was on course to end the week 0.2% lower, as the Fed stuck to its message of ultra-low interest rates for longer.

At the conclusion of the Fed's latest policy meeting on Wednesday, Chair Powell acknowledged the U.S. economy's growth, but said there was not yet enough evidence of "substantial further progress" toward recovery to warrant a change to its ultra-loose monetary settings. That growth accelerated in the first quarter, buoyed by government stimulus cheques, setting the course for what is expected to be the strongest performance this year in nearly four decades.

Data on China was also in focus. Survey results from IHS Markit showed that China's manufacturing sector grew at the fastest pace in four months in April. Manufacturing PMI rose to 51.9 in April from an 11-month low of 50.6 in March. A score above 50 indicates expansion in the sector. Driven by improved market conditions and greater customer demand, total new orders grew for the eleventh straight month in April. Greater inflows of new work led goods producers in China to expand production volumes again in April, with the rate of expansion also improving to a four-month high. Prices data showed a further rapid increase in input costs amid reports of supplier price hikes. The latest increase in expenses was the quickest since November 2017. Companies often passed on higher costs to customers through higher factory gate charges, which rose sharply overall.