We report on the nature of the interlayer magnetic interactions in NiFe/Cu/Co films. By probing the quasi-static and dynamic magnetic properties of biphase ferromagnetic films, with soft and hard ferromagnetic phases intermediated by a non-magnetic layer, we address aspects of the coupling between magnetic layers. Our results demonstrate the nature of the interlayer magnetic coupling in biphase films. We also disclose the asymmetric magnetoimpedance effect as a fingerprint of the nature of the magnetic interlayer interactions playing key role in the magnetization dynamics of the system. We revisit in literature data and ideas on the asymmetric magnetoimpedance and the nature of the magnetic interactions in biphase ferromagnetic systems. Then, we compare our findings with results for biphase ribbons and microwires. Our observations raise the fundamental similarities and differences in the asymmetric magnetoimpedance of these structures.