USD/JPY tilted higher in Asian trade off March 12 lows following earlier data from Japan and ahead of US data. 

As of 05:56 GMT, USD/JPY rose 0.06% to 105.86, with an intraday high at 106.43. 

Earlier Japanese data showed GDP shrank 0.6% q/q in the second quarter, besting estimates of a 0.7% decline. 

GDP prices rose 0.9% y/y as expected, same as the first quarter, while manufacturing PMI rose to 45.2 from 40.1 in June. 

Japan's finance minister Taro Aso described yen's recent surge as "quick", with the government concerned about the impact of a stronger currency on exports. 

From the US, manufacturing PMI is expected up to 51.3 in July from 49.8, while construction spending is expected up 1%. 

ISM manufacturing prices are expected up to 52.3 from 51.3. 

Congress will decide on a new rescue package against the coronavirus pandemic, with the World Health Organization reporting 17.7 million cases worldwide with 681,000 dead so far. 

Fitch Ratings cut the credit rating of the US from AAA stable to AAA negative, as the deficit surges and political uncertainty mounts.  

US stocks rose on Friday, led by the tech shares, to post weekly and monthly gains.

Data showed today that the US personal spending index rose 5.6% in June, while personal income fell 1.1%.

To the oil market, West Texas Intermediate (WTI) rose 0.9% to close at $40.27 a barrel, and posted a 2.5% weekly loss and a 2.5% monthly gain, with a day high of $40.5 and a low of $39.9.

Brent October futures rose 0.6% to $43.52 a barrel, and hit a high of $63.8 and a low of $62.3.

As for stocks, Dow Jones rose 0.4% or 114 points to settle at 26,428, and scored monthly gains of 2.4% and weekly loss of 0.2%, with a session-high of 26,440 and a low of 26,013.

Nasdaq rose 1.5% or 157 points to 10,745, with weekly gains of 3.7% and monthly gains of 6.8%, a high of 10,747 and a low of 10,557.

S&P 500 rose 0.8% or 25 points to close at 3,271, with 1.7% weekly gains and 5.5% monthly gains, and hit a high of 3,272 and a low of 3,220.

The British pound rose against most currencies on Friday, amid growing warnings about the coronavirus crisis and the lingering uncertainty over the Brexit file.

British Prime Minister Boris Johnson warned that a second coronavirus wave may hit the European countries.

Johnson also warned against a spike of infections in the UK during the past few days, which may lead to re-imposing the lockdown and quarantine restrictions.

The number of coronavirus infections increased to 17.25 million cases worldwide, and the World Health Organization has stressed that the pandemic effects could last decades.

As of 18:33 GMT, GBP/USD rose 0.1% to 1.3104, after hitting a high of 1.3171 and a low of 1.3079.

EUR/GBP fell 0.6% to 0.8994, after hitting a high of 0.9066 and a low of 0.8982.

Silver prices rose on Friday, despite the dollar's rise against most currencies, as precious metals attracted demand due to a drop in stock markets.

The markets digested the US data that was released yesterday and showed the US GDP contracted 32.9% in the second quarter.

The dollar index rose against a basket of currencies by 0.3% to 93.3 points as of 19:28 GMT, after hitting a high of 93.3 and a low of 92.2.

Silver September futures rose 3.7%, to close at $24,216 an ounce, with weekly losses of 1.2%, but posted monthly gains of 30%, after hitting a day high of $24.5 and a low of $23.4

Gold August futures rose 1% to close at the all-time highest level at $1,985.9 an ounce, and posted weekly gains of 5% and monthly gains of 10.5%, which are the largest since 2012.