The U.S. dollar trimmed its early gains against its most major counterparts in the European session on Friday, after the release of mixed U.S. jobs data, which showed better than forecast jobs growth but soft wage growth in November.

Data from the Labor Department showed that U.S. employment increased more than anticipated in the month of November.

The report said non-farm payroll employment jumped by 228,000 jobs in November after surging up by a revised 244,000 in October.

Economists had expected employment to climb by 200,000 jobs compared to the addition of 261,000 jobs originally reported for the previous month.

The Labor Department also said the unemployment rate came in at 4.1 percent in November, unchanged from October and in line with economist estimates.

Meanwhile, average hourly employee earnings were up by 2.5 percent year-over-year in November, reflecting an acceleration from 2.4 percent in October but below estimates for 2.7 percent growth.

Congress averted government shutdown on Thursday by passing a two-week funding bill that kept spending at existing levels. Congressional leaders are now working on a budget plan for fiscal year 2018 over policy and spending priorities.

On Wednesday, the Senate and the House agreed to talks over the tax reform bill, in order to reconcile disagreements and have a final version ready by December 22.

The greenback rose against its major rivals in the Asian session, as the passage of the stopgap bill boosted hopes that Congress would clear a tax reform plan by year end.

The greenback dropped to 1.1769 against the euro, from more than a 2-week high of 1.1730 hit in the immediate aftermath of the data. If the greenback slides further, 1.19 is possibly seen as its next support level.

Data from Destatis showed that Germany's exports declined unexpectedly in October.

Exports decreased 0.4 percent month-on-month in October, the same pace as seen in September. Shipments were forecast to grow 1 percent.

Following more than a 3-week high of 0.9978 hit against the franc at 6:15 am ET, the greenback reversed direction and eased to 0.9940. Continuation of the greenback's downtrend may see it challenging support around the 0.98 area.

Having advanced to more than a 3-week high of 113.59 against the yen at 3:45 am ET, the greenback changed course and retreated to 113.22. The next possible support for the greenback is seen around the 111.00 region.

Data from the Cabinet Office showed that Japan's gross domestic product was bumped up to a seasonally adjusted gin of 0.67 percent on quarter in the third quarter of 2017.

That exceeded expectations for a gain of 0.4 percent after the November 14 preliminary reading suggested a gain of 0.3 percent.

The greenback retreated to 1.2804 against the loonie, 0.6867 against the kiwi and 0.7534 against the aussie, from its early highs of 1.2869 and 0.6823 and a 6-month high 0.7501, respectively. The greenback is seen finding support around 1.27 against the loonie, 0.70 against the kiwi and 0.76 against the aussie.

On the flip side, the greenback was firmer against the pound with the pair trading at 1.3421. This may be compared to a 4-day low of 1.3520 hit at 1:30 am ET. On the upside, 1.31 is possibly seen as the next resistance for the greenback.

Data from the Office for National Statistics showed that the UK visible trade deficit increased in October after narrowing a month ago.

The trade in goods showed a shortfall of GBP 10.78 billion compared to a GBP 10.45 billion deficit in September. The expected level was GBP 11.5 billion.

Looking ahead, U.S. wholesale inventories for October and University of Michigan's preliminary consumer sentiment for December are set for release shortly.

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