Asian stock markets headed for a second straight week of gains on Friday and the dollar for its first weekly rise in more than a month as investors have welcomed an apparent softening of the White House stance on China,

President Donald Trump said he has not backed down on the 145% tariff on China and said reciprocal tariffs on other nations could resume within weeks.

President Donald Trump has said he'll start imposing tariffs on countries that don't reach trade deals within "two, three" weeks. In a press conference on Wednesday in the Oval Office, Trump said he thought the US would get "great deals" in its trade negotiations.

Treasuries rallied for a second week, all but erasing this month’s losses, amid signs the Trump administration is making efforts to deescalate trade tensions.

The dollar jumped on Friday, reversing losses from the prior day after a media report that China was weighing tariff exemptions for some U.S. goods, stoking hopes for a de-escalation in a spiralling trade war between the world's two largest economies.

The dollar is moderately lower today because of concerns that the US-China trade war will drag on after China said there were no talks on reaching a trade deal with the US. Also, Treasury Secretary Bessent said President Trump hasn’t offered to take down US tariffs on China on a unilateral basis.