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The dollar slipped against major currencies on Friday as a rebound in European share prices eased some risk aversion fears, but trade was subdued ahead of U.S. payrolls data later in the day.

Investors tentatively sold off the dollar and low-yielding yen and bought into riskier assets, including higher-yielding currencies such as the euro and sterling.

The euro EUR rallied around one percent to a session high of $1.2850, according to Reuters data. It later trimmed some gains but held above a low of $1.2654 earlier in the day. The dollar JPY fell 0.4 percent to 97.38 yen.

Fortune Brands Inc, maker of a range of products including Moen faucets and MasterBrand cabinets, posted higher-than-expected quarterly profit Friday on cost cuts, but lowered its full-year earnings outlook because of the weak economy.

Shares still rose, as a positive report from a realtor trade group heartened investors, who have forced Fortune shares down 51 percent this year due to its exposure to the anemic housing market.