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The euro was under the cosh after slipping to seven-week lows of $1.3295 on Thursday after the ECB cut borrowing costs to a record low of 0.25% in response to a sharp drop in inflation.
The euro was last changing hands at $1.3415.
Markets in Asia took their cues from a rough night on Wall Street as weak earnings saw the Dow Jones industrial average slide 0.97% and the Standard & Poor's 500 Index tumble 1.32%.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3% to a three-week low.
Stocks in Japan were hit hard with the Nikkei down 1.3% to a one-month low and South Korean shares off 0.9% to a four-week trough.
Muddying the global growth picture, the US third-quarter GDP report suggested the world's biggest economy was not out of the woods yet.
Data showed US growth accelerated to 2.8% in July-September, well above economists forecast of 2.0% growth. However, the headline number was deceptive as consumer spending growth was slowest in two years and inventory gains accounted for much of the gains.
The dollar managed to strengthen on the US data, as investors bet the Federal Reserve may be able to cut back its stimulus spending later this year.
The dollar's index against a basket of major currencies hit an eight-week high of 81.46 and last stood at 80.84.
The dollar's strength suppressed oil prices, with Brent crude hitting a four-month low of $103.24 a barrel. Plentiful crude supplies and progress in talks over Iran's disputed nuclear program also weighed on oil.
