Investing.com - The euro was trading close to 14-month lows against the U.S. dollar on Friday, as the European Central Bank's latest policy statement continued to weigh on the single currency.
EUR/USD hit 1.2922 during late Asian trade, not far from Thursday's 14-month lows of 1.2918; the pair subsequently consolidated at 1.2939, easing 0.05%.
The euro came under broad selling pressure on Thursday after the ECB cut its benchmark interest rate to a record-low 0.05% from 0.15%, surprising most market analysts who had expected no change.
In addition, ECB President Mario Draghi said the bank will begin an asset-backed securities program, to purchase non-financial assets, including covered bonds.
The ECB also cut its forecast for growth this year to 0.9% down from 1.0% previously.
Meanwhile, the greenback remained supported by Thursday's ADP nonfarm payrolls report showing that the private sector added less jobs than expected in August.
Another report showed that the number of people who filed for unemployment assistance in the U.S. last week rose more than anticipated last week to 302,000.
The euro was little changed against the pound, with EUR/GBP inching up 0.01% to 0.7927.
Also Friday, official data showed that German industrial production rose 1.9% in July, beating expectations for an uptick of 0.3%, after a revised 0.4% increase in June.
Later in the day, the U.S. was to release the closely watched government report on nonfarm payrolls and the unemployment rate.