8 January 2004, 16:06  Euro steady after ECB leaves rates unchanged

LONDON, Jan 8 - The euro held steady, two cents below this week's record high against the dollar on Thursday, showing little reaction to the European Central Bank's widely expected decision to leave rates unchanged. The euro stood at $1.2626 at 1248 GMT, little changed on the day, having recovered from weakness earlier in the session after key chart support level held. Dealers said the market was now waiting to hear if ECB President Jean-Claude Trichet would make any comment on the single currency's recent rally at the bank's press conference at 1330 GMT. ECB policymakers have so far taken a relaxed approach to the euro's rise, but complaints from business groups have grown louder as the euro has surged more than 10 percent against the dollar in two months, hitting a record high above $1.28 on Tuesday.//

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