LONDON, Feb 22 (Reuters) - The dollar remained close to a two-week low against other currencies on Friday following the weak U.S. factory activity reading since the previous recession, which intensified expectations for aggressive rate cuts.

That prompted markets to fully price in a 50 basis point cut at the Federal Reserve's next meeting in March to 2.50 percent and factor in a small chance of an even bigger 75 basis points.

That would add to an unusually aggressive 125 basis points of cuts in January as the Fed tries to fend off a recession in the world's biggest economy.

In contrast, investors have recently scaled back their expectations for interest rate cuts in the euro zone -- in part due to the European Central Bank's ongoing inflation concerns.

The euro was little changed at $1.4802 by 0813 GMT, after climbing to a two-week peak of $1.4837 on Thursday.