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RPT-Euro inches up, stocks trim gains after ECB stays on hold

Source : REUTERS
Last Updated: Thu, Mar 07, 2013 18:30 hrs

LONDON, March 7 (Reuters) - The euro inched up slightly against the dollar on Thursday after the European Central Bank left rates on hold as was widely expected.

The single currency rose to $1.3036 from $1.3025 before the announcement. It was last trading at 1.3017, up 0.4 percent on the day, but not far from last week's near three-month low of $1.2966, which for now is acting as near-term support.

Europe's FTSEurofirst 300 trimmed gains, up 0.1 percent at 1,186.90 points.

Markets will focus on the press conference starting at 1330 GMT to see if ECB chief Mario Draghi sounds downbeat on the economic outlook for the euro zone and hints at future rate cuts.



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