Oil prices climbed in Asia on Friday, heading for their third weekly gain after OPEC said it was open to fresh talks on freezing output despite the failure to reach a deal at the weekend.
Oil prices built on recent gains Thursday after data showed U.S. production fell to 18-month lows and Iraq pushed for a fresh meeting of crude majors on limiting output.
The euro dipped in Asia on Thursday ahead of a closely watched European Central Bank policy meeting later in the day that comes as its officials are engaged in a public spat with the eurozone's biggest economy Germany.
The yen picked up Wednesday as caution returned to markets after oil prices resumed their slide, while traders speculate over the odds of the Bank of Japan unleashing fresh stimulus.
Oil prices resumed their fall in Asia Wednesday after petroleum workers called off a strike in key OPEC producer Kuwait, quashing hopes the disruption could help ease a persistent supply glut.
Commodity-linked currencies surged on Tuesday as market sentiment improved after disappointment over failed oil talks gave way to hope for the global economy.
Oil prices recovered in volatile trading on Tuesday as a strike by Kuwaiti petroleum workers entered its third day, outweighing disappointment over the failure of talks to freeze output.
Oil prices plunged on Monday after the world's top producers failed to reach an agreement on capping output aimed at easing a global supply glut, sparking fears it could set off another round of price falls.
The yen rallied on Monday in Asia while emerging currencies slumped after the collapse of weekend talks between key producers in Doha aimed at capping output.
The world's leading economies took a step Friday toward denying tax evaders and money launderers around the world the ability to hide behind anonymous shell companies.