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The dollar is up slightly against all of its major rivals Friday afternoon. Traders have been keeping a close eye on reports regarding the trade dispute between the U.S. and China at the end of the week.

While a report from Bloomberg indicated Trump has asked key U.S. officials to begin drafting potential terms of a trade deal with China, senior administration officials have denied an agreement is imminent.

Trump's chief economic advisor Larry Kudlow told CNBC there has been "no massive movement to deal with China."

"We're doing a normal, routine run-through of things that we've already put together and normal preparation," Kudlow said. "We're not on the cusp of a deal."

A closely watched report released by the Labor Department on Friday showed employment in the U.S. jumped by much more than anticipated in the month of October. The Labor Department said non-farm payroll employment surged up by 250,000 jobs in October after rising by a downwardly revised 118,000 jobs in September.

Economists had expected an increase of about 190,000 jobs compared to the addition of 134,000 jobs originally reported for the previous month.

Meanwhile, the report said the unemployment rate in October was unchanged from the previous month at 3.7 percent, its lowest level since hitting 3.5 percent in December of 1969.

With the value of imports rising by more than the value of exports, the Commerce Department released a report on Friday showing the U.S. trade deficit widened more than expected in the month of September. The report said the trade deficit widened to $54.0 billion in September from a revised $53.3 billion in August. Economists had expected the trade deficit to widen to $53.6 billion.

New orders for U.S. manufactured goods increased by more than expected in the month of September, according to a report released by the Commerce Department on Friday. The Commerce Department said factory orders climbed by 0.7 percent in September after spiking by an upwardly revised 2.6 percent in August.

Economists had expected factory orders to rise by 0.5 percent compared to the 2.3 percent jump originally reported for the previous month.

The dollar dropped to a low of $1.1455 against the Euro Friday, but has since rebounded to around $1.1385.

The euro area manufacturing sector expanded at the slowest pace in more than two years in October, final data from IHS Markit showed on Friday. The manufacturing Purchasing Managers' Index for Eurozone fell to a 26-month low of 52.0 from 53.2 in September.

German manufacturing sector growth eased to its lowest in nearly two-and-a-half years in October as orders dropped for the first time since late-2014, final data from IHS Markit showed on Friday. The manufacturing purchasing managers' index, or PMI, dropped to 52.2 from 53.7 in September.

France's manufacturing sector slowed in October, in line with initial estimations, at the slowest pace in over two years, final figures from IHS Markit showed on Friday. The manufacturing Purchasing Managers' Index, or PMI, fell to 51.2 from 52.5 in September. The latest reading was the lowest in 25 months.

The buck fell to an early low of $1.3040 against the pound sterling Friday, but has since bounced back to around $1.2965.

UK construction sector expansion unexpectedly accelerated in October, but firms were the least optimistic about prospects in nearly six years, survey data from IHS Markit showed on Friday. The IHS Markit/ Chartered Institute of Procurement & Supply construction Purchasing Managers' Index, or PMI, rose to 53.2 from 52.1 in September. Economists had expected a score of 52.

The greenback has climbed to around Y113.265 against the Japanese Yen Friday afternoon, from an early low of Y112.654.