The dollar was healing its wounds against other currencies on Friday after a downward revision of US GDP for the first quarter suggested room for rate cuts this year. The pound sterling was unchanged at $1.2734 while the Indian rupee will rise slightly due to the fall in American yields and possible inflows of capital

US Treasury yields, which had propelled the greenback to the highest level since May 14 at 105.17 on Thursday as they marched to multi-week highs, slipped following revised GDP data. The dollar index, which measures the currency against six of its major peers, last consolidated around 104.76 after falling to 104.63

Compared to the dollar, the yen was little changed even after data showed that Tokyo consumer prices, a leading indicator of national figures, accelerated from the previous month to maintain market expectations that the central bank would raise interest rates this year Fed. After a brief weakening, the Japanese currency held around 156.77 per greenback, staying outside of Wednesday's four-week low of 157.715 per dollar

The yen gradually moved closer to the 34-year low of 160.245 in a month, a level that, according to market players, triggered two rounds of dollar selling interventions by Tokyo. Elsewhere, the euro remained stable at $1.083225 after touching a two-week low of $1.07885 overnight

Sterling was unchanged at $1.2734 after reaching $1.2801 on Tuesday for the first time since March 21.

Australian and New Zealand dollars took a break on Friday after a week of volatile trading, with a disappointing survey of China's manufacturing industry providing another reason for caution. Aussie remained stable at $0.6633, after rising slightly by 0.3% overnight, little change over the week after ricocheted between the support at $0.6591 and the resistance around $0.6680

The Kiwi dollar strengthened slightly to $0.6121, after rebounding from the previous session's low of $0.6090. The resistance is at the recent 10-week high at $0.6170, with support at $0.6084

The Chinese yuan weakened on Friday after an official factory survey showed that the country's manufacturing activity contracted unexpectedly in May. The spot yuan opened at 7.2220 for one dollar and was changing hands at 7.2412 at noon, 92 pips lower than the previous late trading close. The offshore yuan traded at 7.2543

Undeliverable futures indicate that the rupee will open at 83.28 per US dollar, up from 83.3175 in the previous session. The rupee ends a 3-day losing streak on flows.

In cryptocurrencies, bitcoin fell by 0.21% to $68,327.00.