The euro slipped against its key counterparts in European trading on Friday, as the European Central Bank President Mario Draghi dismissed talks of an abrupt end to QE program and signaled that policy makers are likely to extend their bond purchase program beyond its scheduled expiration in March.

"We did not discuss tapering or the intended asset purchase horizon," Draghi said in response to questions from reporters during the post-decision press conference in Frankfurt. He added that an abrupt end to its bond buying program is unlikely.

Draghi cautioned that extraordinary monetary support cannot last forever, while noting that the authority's bond-buying program will likely be tapered before it is halted.

Policymakers prefer to make a decision at the December 8 meeting, when ECB staff projections for growth and inflation through 2019 will be released, he added.

Meanwhile, European markets are mixed, as traders digested Draghi's remarks, and as Fed voting member William Dudley reiterated that a rate hike is on the cards by the end of 2016.

The World Bank upped its crude oil price forecast for 2017 to $55 a barrel from $53 a barrel, but warned that the rise of non-traditional sources of supply will constrain OPEC's ability to control prices.

The euro showed mixed trading in the previous session. While the euro held steady against the Swiss franc and the pound, it dropped against the greenback and the Japanese yen.

The euro declined to 3-week lows of 112.83 against the Japanese yen and 1.0823 against the Swiss franc, from Thursday's closing values of 113.60 and 1.0846, respectively. The next possible support for the euro may be found around 110.00 against the yen and 1.06 against the franc.

The 19-nation currency lost 0.5 percent to hit 1.0878 against the greenback, a level not seen since March 2016. On the downside, 1.07 is possibly seen as the next support level for the euro-greenback pair. At Thursday's close, the pair was valued at 1.0929.

The single currency that ended Thursday's trading at 0.8917 against the pound dropped to a 2-week low of 0.8887. The euro-pound pair is likely to find support around the 0.86 region.

Figures from the Office for National Statistics showed that U.K. public sector net borrowing, excluding public sector banks, increased unexpectedly in September.

The budget deficit rose by GBP 1.3 billion from prior year to GBP 10.6 billion in September. Meanwhile, it was expected to narrow to GBP 8.5 billion.

The euro edged down to 1.4229 against the aussie, 1.5172 against the kiwi and 1.4411 against the loonie, compared to yesterday's closing quotes of 1.4326, 1.5188 and 1.4457, respectively. Further weakness may take the euro to support levels of around 1.40 against the aussie, 1.50 against the kiwi and 1.43 against the loonie.

Looking ahead, Canada CPI for September and retail sales data for August, Eurozone consumer sentiment index for October and U.S. rig count data are set to be published in the New York session.

At 10:15 am ET, Federal Reserve Governor Daniel K. Tarullo is scheduled to talk about "Pedagogy and Scholarship in a Post-Crisis World" at the Columbia Law School Conference on the New Pedagogy of Financial Regulation in New York.

At 2:30 pm ET, Federal Reserve Bank of San Francisco President John Williams is expected to speak before the Federal Home Loan Bank 2016 Member Conference, in San Francisco.

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