Euro steadies near four-week low against the dollar

THE euro held steady near its four-week low against the dollar yesterday after the European Central Bank left rates unchanged at 3.25%, as expected.

The ECB made no additional comments in announcing its rate decision and no news conference was scheduled. “An unchanged decision was completely in line with expectations,” said Jake Moore, currency strategist at Barclays Capital.

“The economic backdrop means that rates are unlikely to go up any time soon.