The single currency fetched $1.4322, flat from late Wednesday in New York.
The euro has posted strong gains against the low-yielding yen and the dollar since the ECB recently raised its anti-inflation rhetoric.
On Wednesday the single currency pushed up to its highest level against the dollar in over a year.
"Traders are squarely focused on the ECB being the first major central bank (apart from China) to start raising interest rates, with a 25bps hike tonight fully priced," said John Kyriakopoulos at National Australia Bank.
The expectations around the ECB has even managed to overshadow the eurozone debt crisis for now, with traders looking past Portugal's request on Wednesday for a financial bailout from the European Union.
The yen recovered some ground ahead of the conclusion of a Bank of Japan meeting, with markets awaiting the central bank's latest step in soothing an economy hit by the March 11 earthquake, tsunami and an ensuing nuclear crisis.
Japan is likely to keep its benchmark rate near zero as its economic outlook looks uncertain in the aftermath of the disasters.
The yen has slipped in recent days, as a widening interest rate differential with other major currencies appears to be fueling selling of the Japanese unit by hedge funds and other investors, dealers said.
However, it regained some ground Thursday. The dollar was at 85.33 yen, down from 85.44 yen. The Japanese unit also climbed against the euro at 122.35 yen from 122.48.