Euro rebounded strongly from Thursday's low 1.2510 and rallied back to 1.2799 on active short-covering in European morning before retreating to 1.2609 after release of robust U.S. non-farm payrolls data. However, renewed buying interest later lifted the pair and euro ended the day at 1.2755. Overall, euro drew support as Germany's upper house of parliament approved German loans to Greece through the state-owned KfW bank. In addition, there was also speculation that the European Central Bank might make more funds available to banks to prevent the Greek debt crisis from spreading to other eurozone countries.

Versus the Japanese yen, despite Thursday's cross-inspired selloff to a 2010 low of 87.95 on panic risk aversion after the Dow plunged almost 1,000 points due to erroneous trading, the usd/jpy pair quickly rebounded from said low on short-covering and reached 92.78 in Asia on Friday. The greenback then briefly climbed to 93.27 after the release of better-than-expected jobs report which showed US employers added 290,000 jobs last month versus economists' forecast of 200,000 . The pair later retreated to 90.85 and moved sideways in NY afternoon.

The British pound tanked to a fresh one-year low to 1.4475 following the selloff in Thursday as no political party gained enough seats to win a straight majority after the UK election. However, cable rebounded later when Conservative Party leader Cameron offered to work with their smaller Liberal Democrats rivals. Sterling pared most of its early losses and ended the day at 1.4801. In the UK election, the centre-right Conservatives led by Cameron won 306 seats in the 650-seat House of Commons followed by Labour on 258 and the Liberal Democrats on 57, according to the results in 649 out of the 650 seats declared by parliamentary constituencies.

Economic data to be released next week include: BOJ minutes, Germany Trade balance, Export , Import, Current account , EU Sentix investor confidence, U.K. BOE rate decision and U.K. BOE rate decision are out on Monday, U.K. BRC retail sales , Australia NAB business confidence , Germany CPI final , U.K. Industrial production and U.S. Consumer confidence on Tuesday, Japan Leading indicators , Germany GDP , Swiss Combined PPI , U.K. Trade balance , U.K. Claimant count , EU GDP , Industrial production, Canada Trade balance , Exports, Imports, New housing price and U.S. Fed budget on Wednesday. U.K. N'wide Consumer Confidence, Japan Current account , Japan Economic watch DI ,U.K. Trade balance, U.S. Export price index , U.S. Import price index and U.S. Jobless claims on Thursday. U.S. Retail sales , Capacity utilisation , Industrial production, Industrial production on Friday.