The dollar steadied versus most majors Friday morning in New York amid growing anxiety that the global economic recovery may have stalled. With traders again starting to lean on the world's reserve currency, the dollar saw notable gains versus the euro, and held its ground versus the surging sterling. Friday's economic calendar includes a slew of data, including reports on inflation, regional manufacturing activity, industrial production and consumer sentiment. Attention will also turn to Wall Street, where JPMorgan will release its quarterly earnings results. The dollar rose to 1.4375 versus the euro, moving a full 2 cents from a monthly low touched earlier in the week. With the advance, the buck pared half its modest 2010 losses. In December, the dollar rose as high as 1.4216, as the euro suffered from anxiety about debt problems faced by Greece. European Central Bank President Jean-Claude Trichet insisted Thursday that the central bank will not bailout Greece and added that the country itself should implement tough fiscal tightening to address debt issues. "No government, no state can expect special treatment," Trichet said in a press conference after the central bank maintained its key interest rate at 1%. The central bank chief called speculation about Greece's exit from Eurozone "absurd". Meanwhile, Eurozone trade surplus narrowed to EUR 4.8 billion from a revised EUR 6.6 billion in October, Eurostat said Friday. Economists had forecast EUR 7 billion surplus. The dollar managed to stabilize versus the sterling Friday morning, hovering with a cent of yesterday's monthly low near 1.6350. Against the yen, the buck hit a fresh 3-week low of 90.59 before heading sideways. After a rough final month of 2009, the yen has been broadly stronger, benefiting from risk aversion. The price of oil moved below $79 a barrel this morning, helping the buck stem recent bleeding against its petro-linked Canadian counterpart. The pair was stuck at C$1.0265 after testing a 16-month low near C$1.0200 yesterday. Looking at today's expected data, the consumer price index for December is scheduled to be released at 8:30 a.m ET. Economists are looking for a 0.2% increase in the headline consumer price index, while the core consumer price index that excludes food and energy is expected to show 0.1% growth. Traders will also focus on results of the New York Federal Reserve's empire state manufacturing survey for January, slated to be released at 8:30 a.m. ET. Consensus estimate calls for the headline general business conditions index to come in at 12.00.

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