S&P 500 futures were flat, showing little enthusiasm for breaking the cash gauge's five-day losing streak on Wall Street, which has left it on track for its biggest one-week decline this month.
Traders had ramped up bets for a September cut following a weak payrolls report at the start of this month, and after consumer price data showed limited upward pressure from tariffs.
However, market pricing pulled back slightly following the release of minutes from the Fed's July meeting. Traders are now pricing in a 75.3% probability of a cut in September, down from 82.4% on Thursday, according to the CME Group's FedWatch tool.
The euro slipped 0.2% to $1.1589 as the EU and the U.S. set out details of a framework trade deal struck in July.
Japanese data showed core inflation slowed for a second straight month in July but stayed above the central bank's 2% target, keeping alive expectations for a rate hike in the coming months. That did little to help the yen though, which was poised for a 1% decline for the week.
BOJ Governor Kazuo Ueda will speak at Jackson Hole this weekend.
MSCI's broadest index of Asia-Pacific shares outside Japan was also flat, supported by a 1.2% gain for China's blue-chip CSI 300 Index, on track for its third consecutive day of gains.
Oil prices moved lower, with Brent crude last trading down 0.2% at $67.54 per barrel, after strong gains on Thursday as Russia and Ukraine blamed each other for a stalled peace process while U.S. data showed signs of strong demand in the top oil consuming nation.
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