The euro strengthened against the other major currencies in the pre-European session on Friday, on bargain hunting following its recent losses.

However, the euro fell earlier as speculation for an aggressive easing by the ECB pushed down the currency, before the central bank's December 3 meeting.

European Central Bank President Mario Draghi signaled earlier that the bank is considering various options to ease monetary policy further to support weaker economic recovery. Also, he said that the ECB is committed to maintaining its bond-buying program through September 2016, as scheduled, or "beyond" if necessary.

Traders await the Eurozone economic sentiment index for November and Germany's GfK's forward-looking consumer confidence index for December, due shortly.

In other economic news, data from Destatis showed that Germany's import prices fell 4.1 percent year-on-year in October, bigger than September's 4 percent decrease and a 3.9 percent drop forecast by economists. This was the biggest fall since January, when it plunged 4.4 percent.

Month-on-month, import prices decreased 0.3 percent and export prices slid 0.2 percent.

In the Asian session, the euro held steady against its major rivals.

In the pre-European trading, the euro rose to an 8-day high of 1.0880 against the Swiss franc and a 3-day high of 1.4759 against the Australian dollar, from early lows of 1.0852 and 1.4658, respectively. If the euro extends its uptrend, it is likely to find resistance around 1.09 against the Swiss franc and 1.50 against the aussie.

Against the U.S. dollar and the pound, the euro advanced to 2-day highs of 1.0638 and 0.7049 from early lows of 1.0601 and 0.7019, respectively. The euro may test support near 1.08 against the greenback and 0.72 against the pound.

The euro edged up to 130.15 against the yen, from an early low of 129.98. On the upside, 133.00 is seen as the next resistance level for the euro.

Against the New Zealand and the Canadian dollars, the euro climbed to 2-day highs of 1.6229 and 1.4159 from early lows of 1.6116 and 1.4093, respectively. The euro is likely to find resistance around 1.65 against the kiwi and 1.44 against the loonie.

Looking ahead, the second estimate of U.K. GDP data for the third quarter, U.K. index of services for September, Eurozone economic confidence index for November and German Gfk consumer sentiment for December are slated for release in the European session.

In the New York session, Canada industrial product price index for October is set to be published.

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