Investing.com - The dollar was broadly lower against the other major currencies on Friday, as markets were eyeing the release of key U.S. employment data later in the trading session.
The dollar was lower against the euro, with EUR/USD up 0.14% to 1.3880.
The euro remained support after European Central Bank President Mario Draghi on Thursday confirmed that the bank left its benchmark interest rate unchanged at 0.5%, with the latest economic data indicating that “the moderate economic recovery in the euro zone is proceeding.”
The central bank revised its forecast for economic growth in 2014 to 1.2% from 1.1% in December.
However, the bank revised down its inflation forecast for this year to 1.0% from 1.1% in December. The bank expects inflation to pick up to 1.3% in 2015 and 1.5% in 2016, remaining below the bank’s target of just under 2%.
Meanwhile, market players were looking ahead to an upcoming U.S. nonfarm payrolls report for February, after job growth came in below expectations in December and January.
The pound was higher against the dollar, with GBP/USD edging up 0.07% to 1.6751.
Official data showed that U.K. consumer inflation expectations for the next 12 months slipped to 2.8% in the fourth quarter, from 3.6% in the previous quarter.
The dollar was lower against the yen and the Swiss franc, with USD/JPY slipping 0.12% to 102.95 and with USD/CHF shedding 0.23% to 0.8783.
In Switzerland, official data showed that consumer price inflation ticked up 0.1% in February, compared to expectations for a 0.2% rise, after a 0.3% fall the previous month.
A separate report showed that Swiss foreign currency reserves fell to 433.5 billion Swiss francs last month, from 437.7 billion Swiss francs in January.
The greenback was steady to lower against the Australian, New Zealand and Canadian dollars, with AUD/USD climbing 0.42% to 0.9128, NZD/USD gaining 0.39% to 0.8509 and USD/CAD inching 0.04% higher to 1.0986.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.12% to 79.58.