Investing.com - The euro remained lower against the dollar on Wednesday after the European Central Bank left monetary policy on hold, as investors awaited the bank’s post-policy meeting press conference.
EUR/USD was at 1.0581 from around 1.0598 ahead of the policy announcement.
The ECB said it was maintaining its benchmark interest rate at a record-low 0.05%, in line with market expectations. The central bank also held its marginal lending at 0.30% and left its deposit facility rate unchanged at minus 0.20%.
ECB president Mario Draghi was expected to discuss the effects of the bank's €1.1 trillion quantitative easing program on the region's economy at the press conference.
The euro was also weaker against the yen, with EUR/JPY at 126.51 from 126.56 earlier.
The dollar moved broadly higher against a basket of other major currencies, regaining ground lost in the previous session after a disappointing U.S. retail sales report.
Data showed that U.S. retail sales rose 0.9% in March, missing expectations for a 1.0% gain.
The data fuelled speculation that the Federal Reserve could delay hiking interest rates until late 2015, instead of tightening midyear.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose to 99.45, well off Tuesday’s lows of 98.58.