The U.S. dollar chipped away Friday against gains made this week by the euro, which sunk below the US$1.32 mark in morning European trading.
The euro spiked up about 2 U.S. cents at the start of the week to more than US$1.32 but the dollar has been gradually working its way back.
The euro sunk as low as US$1.3181 and was trading at US$1.3203 in the midmorning, down from US$1.3208 in New York the night before.
The U.S. currency was mixed against other rivals, with the British pound down to US$1.9111 from US$ 1.9120 and the dollar buying 105.19 yen, down from 105.40.
The euro soared from about $1.20 in September to an all-time high of $1.3667 at the end of December, powered by concerns over the U.S. budget and trade deficits. The dollar has since regained some ground, but analysts think the recovery could be temporary and that the euro will continue its rise this year.