Feb 7 (Reuters) - The dollar rose on Friday as tariff fears regained the spotlight, with U.S. President Donald Trump saying he plans to announce reciprocal tariffs on many countries next week, though he did not identify them.

The tariff news overshadowed U.S. employment data for January, which was mixed, with job growth slowing after a strong December while the unemployment rate unexpectedly fell to 4.0% and earnings growth posted a surprising acceleration.

Minneapolis Federal Reserve Bank President Neel Kashkari said the labor market is strong, and if inflation continues to cool, the U.S. central bank's policy rate will be "modestly" lower by the end of the year than now. Chicago Federal Reserve Bank President Austan Goolsbee said the policy rate will be a "fair bit" lower in 12-18 months, though it depends on inflation.

Federal Reserve Governor Adriana Kugler said it is "prudent" to hold the policy rate steady for some time to see how uncertainties play out.

EUR/USD reversed earlier gains and slid to a 1.0305 session low, hurt by the tariffs news. Earlier, the pair struggled to climb above its 55-DMA at 1.0415 though a bullish hammer from Tuesday offers support. The European Central Bank may still be several interest rate cuts away from the level where it stops holding back economic growth, it said in a paper on Friday.

GBP/USD fell toward its 21-DMA at 1.2362 before trimming losses. Bank of England Chief Economist Huw Pill said that an expected rise in inflation this year would probably not lead to second-round price pressures, but that recent strong pay growth was a reason for "caution"towards future interest rate cuts.

USD/JPY was slightly firmer following a meeting between Trump and Japanese Prime Minister Ishiba. Trump later told reporters that he wants to work together to get the U.S. trade deficit with Japan down to "even." He is also considering allowing U.S. Steel’s sale to Nippon Steel and will speak to Ishiba about North Korea. Separately, Ishaba said Japan is ready to further investments in the US. Yen crosses remained heavy with EUR/JPY nearing key support at its 155.14 September low.

Treasury yields were 5 to 7 basis points higher. The 2s-10s curve was down about 1 basis points to +21.8bp.

The S&P 500 fell 0.76% with consumer discretionary and tech shares down.

Oil gained 0.58%, gold rose 0.2% and copper jumped 3%.

Heading toward the close: EUR/USD -0.58%, USD/JPY -0.16%, GBP/USD -0.27%, AUD/USD -0.14%, =USD +0.34%, EUR/JPY -0.57%, GBP/JPY -0.28%, AUD/JPY -0.26%.

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(Editing by Burton FriersonReporting by Robert Fullem)

((robert.fullem@thomsonreuters.com;))