The euro trimmed gains against the dollar on Thursday, weighed down by sharp losses in U.S. stocks and commodities in a risk-averse market.

One U.S. traders attributed the risk-off move to comments by Cleveland Federal Reserve Bank President Sandra Pianalto that the U.S. recovery has been frustratingly slow and the labor market won't improve until the economy grows faster.

The euro was last little changed at $1.3465 .