The euro rose against the dollar on Friday after a jump in EU industrial production figures for January but was kept in check due to rumours of a possible rise in US interest rates. In late deals in London, the European single currency was changing hands at 1. 3760 dollars from 1. 3678 dollars late in New York on Thursday.

Standard and Poor's on Friday downgraded its long-term local currency ratings for Jordan citing rising government debt and weaker fiscal flexibility. "The rating actions are based on our view of the kingdom's weaker medium-term fiscal flexibility and the associated rise in government debt," S&P credit analyst Luc Marchand said in a statement.

The dollar traded mixed on Friday before the publication of official US economic data, while the yen was also in focus after Japan's leader called for "firm steps" against the currency's recent rise. In late morning deals here, the European single currency rose to 1. 3778 dollars from 1. 3678 dollars late in New York on Thursday.

US President Barack Obama Thursday called on China to embrace a "market oriented" exchange rate for its yuan currency, saying such a move would help rebalance the global economy.

The euro rose against the dollar Thursday as positive employment data from the United States helped to offset persistent concerns about debt levels in the European Union. The single European currency in late-day trade was at 1. 3670 dollars against 1. 3657 late Wednesday in New York. The dollar was meanwhile trading at 90.

The yen fell in Asian trade Friday following rare remarks by Japanese Prime Minister Yukio Hatoyama who called for "firm steps" against the yen's recent rise, which is hurting exporters. The dollar firmed to 90. 62 yen in Tokyo late afternoon trade from 90. 48 in New York late Thursday. The euro jumped to 124.

China on Friday hit back at an attack from US President Barack Obama over currency policy, saying the yuan's value was not a political one and was not the key to global trade imbalances. Obama Thursday called on China to adopt a "market-oriented" exchange rate policy, increasing the pressure on Beijing to allow the yuan -- effectively pegged to the dollar since mid-2008 -- to appreciate.

China on Friday hit back at US President Barack Obama over his comments on the value of the yuan, saying the issue was not a political one and was not the solution to global trade imbalances. Obama on Thursday called on China to adopt a "market-oriented" exchange rate policy, increasing the pressure on Beijing to allow the yuan -- effectively pegged to the dollar since mid-2008 -- to appreciate.

The dollar firmed in Asian trade Friday as investors anticipated US retail sales data later in the day to confirm a sustainable recovery in the world's top economy is taking root. The dollar firmed to 90. 58 yen in Tokyo late morning trade from 90. 48 in New York late Thursday. The euro fell slightly to 1.

The safe-haven dollar steadied against rival currencies on Thursday after Chinese economic data raised fears of soaring inflation, dealers said. In late morning deals here, the European single currency stood at 1. 3657 dollars, unchanged from its level late in New York on Wednesday. Against the Japanese currency, the dollar edged up to 90.