Investing.com - The dollar edged up to one-week highs against the other major currencies on Friday, as the release of disappointing data from the euro zone weighed broadly on the euro and as rising oil prices continued to support market sentiment.
Market sentiment was boosted as oil prices remained close to five-month highs on Friday.
EUR/USD slipped 0.15% to trade at 1.1270.
Research group Markit said its Flash Euro Zone Composite Output Index, which measures the combined output of both the manufacturing and service sectors slipped from 53.1 in March to 53.0 in April, below forecasts for 53.2.
Markit also said the German manufacturing PMI rose to 51.9 in April from 50.7 the previous month, while the services PMI fell to 54.9 from 55.1.
In France, the manufacturing PMI fell to 48.3 in April from 49.6 the previous month, while the services PMI rose to 50.8 from 49.9.
The data came a day after European Central Bank President Draghi said the bank stands ready to use “all instruments available,” including further interest rate cuts to ensure the inflation rate returns to its target.
The ECB held the benchmark interest rate at a record low zero, in a widely anticipated decision.
USD/JPY advanced 0.87% to 110.41.
The yen remained under pressure amid speculation the Bank of Japan could announce further easing measures at its policy meeting next week.
Bank of Japan Governor Haruhiko Kuroda reiterated on Wednesday that it is prepared to ease monetary policy further in order to reach its inflation target.
Meanwhile, the dollar was lower against the pound, with GBP/USD up 0.08% at 1.4335 and was higher against the Swiss franc, with USD/CHF adding 0.12% to 0.9762.
The Australian dollar was higher, with AUD/USD up 0.13% at 0.7747, while NZD/USD dropped 0.38% to 0.6886.
Elsewhere, USD/CAD edged up 0.12% to 1.2748.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.19% at 94.80, the highest since April 15.