The US dollar recorded its biggest weekly decline in four months on Thursday, amid investor speculation that the Fed may ease monetary policy further.
Pressure on the dollar also increased after President Donald Trump stressed the need to cut interest rates.
At 9.40 am, the US Dollar Index (DXY) was at 99.621 points, up slightly by 0.08% since it opened in early trading on Friday in the Asian session.
US markets were closed for the Thanksgiving holiday, making market liquidity thin and strengthening trading movements.
Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, advised investors to reassess their currency allocations as the dollar's appeal is waning, with the euro and Australian dollar now seen as more attractive.
The dollar's outlook is also influenced by the possibility of Kevin Hassett being appointed as the next Fed chairman. Hassett's support for rate cuts could be a negative catalyst for the dollar.
Global analysis shows that views on the dollar remain mixed.
Some differences in interest rates and growth expectations give Europe an advantage over the US, but the strength and resilience of the US economy is also an important factor.
