The euro pared gains against the dollar on Thursday as the European Central Bank left interest rates unchanged and sounded a cautious note on the economy, saying growth rates in coming quarters would be uneven.

Traders also cited a lack of new detail from ECB President Jean Claude Trichet about emeregncy liquidity measures also weighed on the euro, which slipped to $1.2025 EUR= from around $1.2050. It was still up 0.3 percent on the day.