The euro was mixed on Friday, struggling to retain its strong recent gains versus the dollar as stocks wobbled on Wall Street.

After losing significant ground in the early going, the euro improved along with US stocks approaching mid-day, as traders expressed a bit of risk appetite.

Still, the euro is unlikely to extend yesterday's nearly 3-month high of 1.3106 versus the dollar.

Amid a slew of economic data from both sides of the Atlantic, the euro fetched 1.3030 versus the dollar as of 11 am ET.

Eurozone annual inflation rose to a 20-month high in July, while the unemployment rate in the 16-nation currency bloc remained at a 12-year high, data showed today.

The annual inflation rose to 1.7% in July, logging the highest rate since November 2008, according to a flash estimate from Eurostat, released on Friday.

Meanwhile, U.S. economic activity increased at a slightly slower than expected pace in the second quarter, according to a report released by the Commerce Department on Friday.

The report showed that gross domestic product increased at an annual rate of 2.4 percent in the second quarter compared to the revised 3.7 percent jump seen in the first quarter.

Later, the University of Michigan's monthly survey said US consumer sentiment plunged in July to its lowest level in nine months.

The euro dropped toward its July lows versus the sterling, hitting 0.8321.

Against the yen, the euro dropped to a weekly low near Y112 before finding its footing.