* U.S. dollar rebounds, euro hit by weak economic data

* Oil slips to almost $72 a barrel as dollar gains

* U.S. debt rallies after $65 bln in bonds sold this week

* Dow enters positive territory for first time since Jan. (Adds close of U.S. markets)

By Herbert Lash

NEW YORK, June 12 (Reuters) - The U.S. dollar recovered some of this week's losses on Friday, pressuring oil and other commodities, while the Dow edged into positive territory for the first time this year since January in lackluster trade.

U.S. Treasury debt rallied, extending a retreat in benchmark yields from eight-month highs, as investors breathed a sigh of relief after the U.S. government this week sold $65 billion in new debt with relative ease.

The dollar rose broadly, rebounding from the week's steep sell-off, as demand for the euro fell after data showed a 21.6 percent plunge in euro zone industrial production in April -- a new record drop in output in the 16-country area.

Investors had bet on an end to recession for most of the week, spurring many commodity prices to eight-month highs and lifting global stocks on hopes economic recovery would boost demand, before some profit-taking on Friday.