The U.S. dollar turned in a weak performance against its major rivals on Friday on bets the Federal Reserve will likely cut interest rate in September after a reading of the nation's consumer price inflation came in line with estimates.

The Switzerland market ended on a strong note on Friday as stocks kept moving higher and higher during the day's session thanks to sustained buying support amid bets several central banks will start cutting interest rates soon.

European stocks closed higher on Friday with investors digesting eurozone inflation data, and a report on U.S. personal income & spending, and looking ahead to the European Central Bank's monetary policy announcement next week.

The U.S. dollar moved down against its major counterparts in the New York session on Friday, as the nation's consumer prices increased in line with economist estimates in April, raising the possibility of a rate cut from the Federal Reserve in September.

Despite optimism about an interest rate cut by the Bank of Canada in June, the Canadian market remains weak a little past noon on Friday as data showing a less than expected growth of the nation's GDP weigh on sentiment.

The New Zealand dollar continues its ascent for the second consecutive session against the US dollar, resulting in the NZD/USD pair climbing to 0.6125.

Oil prices fell Friday as Fed officials said rate cuts were premature, and a surprise build in US gasoline stocks added pressure.

The dollar steadied Friday after a Q1 US GDP revision hinted at Fed rate cuts. The yen stayed above its four-week low on stable price growth.

On Thursday, the dollar surged to a two-week high due to strong economic data and weak Treasury auctions, signaling market ripples.

Dollar pulls back ahead of core PCE price index - Euro awaits Eurozone flash CPI data - Wall Street closes in the red, oil extends slide