Most Asian currencies were set for weekly losses on Friday, with the Philippine peso drifting to its lowest level in nearly four weeks and the Indonesian rupiah hovering near a record low, as stalled U.S.-Iran peace talks underpinned the dollar.

Most stock markets in the region were headed for weekly gains after U.S. President Donald Trump extended the ceasefire with Iran indefinitely, though stalled talks and the fragility of the truce kept investor optimism in check.