LONDON (MarketWatch) -- European Central Bank President Jean-Claude Trichet on Thursday said risks to price developments in the 17-nation euro zone are on the "upside" and that "strong vigilance" is warranted. The euro jumped in the wake of the remarks to trade at $1.3944 versus the dollar, a gain of 0.6%. The ECB earlier Thursday announced it had left its key lending rate unchanged at 1%, as expected. Trichet said risks to price developments are tied to rising prices for energy and other raw materials. http://www.marketwatch.com/story/trichet-strong-vigilance-warranted-on-prices-2011-03-03 The wording "strong vigilance" was in the past TrichetÂ´s hidden message for the markets for an imminent interest rate increase.