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

* Euro flat at $1.5690, after hitting 1-wk low at $1.5654

* Less hawkish ECB weighs on single currency

* Market consolidation seen as U.S. on holiday

(updates prices)

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.

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