The U.S. dollar bounced off from its recent losses against its major opponents in the European session on Friday, as the U.S. unemployment rate fell to an 18-year low in April, indicating that the Fed would continue with gradual rate hikes during the year.

Data from the Labor Department showed that U.S. unemployment rate fell to 3.9 percent in April after holding at 4.1 percent for six straight months. The unemployment rate had been expected to edge down to 4.0 percent.

With the bigger than expected decrease, the unemployment rate dropped to its lowest level since a matching rate in December of 2000.

Meanwhile, the non-farm payroll employment climbed by 164,000 jobs in April after rising by an upwardly revised 135,000 jobs in March.

Economists had expected employment to increase by 192,000 jobs compared to the addition of 103,000 jobs originally reported for the previous month.

The mixed jobs data is unlikely to dissuade the Fed from holding off its rate hike in June.

The Sino-U.S. trade talks ended in Beijing, with both two sides exchanging views on expanding US exports to China, trade in services, bilateral investment, protection of intellectual property rights, resolution of tariffs and non-tariff measures.

Both sides recognized that large differences still remain on some issues and they would continue to resolve relevant economic and trade issues through dialogue and consultation.

The greenback rose against its major counterparts in the Asian session, with the exception of the yen.

Following a 10-day decline to 108.65 against the yen in the immediate aftermath of the data, the greenback bounced off to 109.19 in a short while. The pair ended Thursday's deals at 109.18. Continuation of the greenback's uptrend may see it challenging resistance around the 110.00 level.

The greenback quickly erased its data-induced losses against the franc and spiked up to near a 6-month peak of 1.0009. If the greenback continues its rise, 1.01 is possibly seen as its next resistance level.

The greenback climbed to near a 4-month high of 1.1927 against the euro, from a low of 1.1996 hit at 11:30 pm ET. Next key resistance for the greenback is likely seen around the 1.17 level.

Final data from IHS Markit showed that Eurozone economic activity expanded strongly in April but the pace of expansion slowed marginally since March.

The composite output index fell slightly to 55.1 in April from 55.2 in March. According to flash estimate, the index remained unchanged at 55.2 in April.

The greenback strengthened to 1.3524 against the pound, its highest since January 11. This follows a low of 1.3586 seen at 10:30 pm ET. The greenback is likely to find resistance around the 1.34 area.

The greenback advanced to more than a 4-week high of 1.2917 against the loonie, after having fallen to 1.2836 at 9:45 pm ET. The next possible resistance for the greenback is seen around the 1.31 area.

The greenback strengthened to 0.7492 against the aussie and 0.6994 against the kiwi, from its early 4-day lows of 0.7560 and 0.7053, respectively. The greenback is poised to challenge resistance around 0.73 against the aussie and 0.68 against the kiwi.

Looking ahead, Canada Ivey PMI for April is scheduled for release shortly.

At 12:00 pm ET, New York Fed President William Dudley will discuss financial turmoil and the challenges ahead in an interview conducted by Matthew Winkler with Bloomberg News.

San Francisco Fed President John Williams will give remarks at the Hoover Institute's Monetary Policy Conference, hosted by Stanford University at 3:00 pm ET.

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