The dollar teetered close to its all-time lows against the euro on Thursday as the market waited to see whether the European Central Bank would voice concern about the sharp rally in the single currency. The ECB is widely expected to announce no change in its 4.0 percent interest rate later on Thursday, so all eyes will be on what President Jean-Claude Trichet says about the conflicting challenges of euro strength and a jump in inflation. "Although we remain euro/dollar bullish longer term, the risk is a pull-back today as the ECB suggests the exchange rate is back on the policy radar," RBC Capital Markets said in a client note. Meanwhile investors remained perturbed by expectations that the Federal Reserve could cut rates again next month, further reducing the dollar's yield appeal, with stock futures already pointing to a weak start on Wall Street. "Euro/dollar is not being driven by more fundamental factors, but by worries about whatever negative news emanates from the U.S., whether it's about industrials or the banking sector," said Michael Hart, currency strategist at Citigroup.