FOREX-Euro hits 1-wk low vs dlr, punctured by Trichet

By Veronica Brown LONDON, July 4 (Reuters) - The euro hit a one-week lows versus the dollar on Friday, deflated after the European Central Bank signalled it wasn't planning another rate rise and as U.S. jobs data did not deliver a big downside surprise. The ECB raised euro area borrowing costs by a widely anticipated quarter percentage-point to 4.25 percent on Thursday, but President Jean-Claude Trichet avoided any code words associated with more tightening, saying he had no bias. (For details please double click on [ID:nL0323441]) Taken with the U.S. non-farm payrolls report, which was in line with expectations despite speculation about risks to the downside, Trichet's tone helped to knock the euro two U.S. cents off two-month highs. Several ECB policymakers reiterated Trichet's stance on Friday, including Governing Council... [read full story]