The drop in the euro came after the advocate general of the European Court of Justice, Pedro Cruz Villalon, advised judges to approve the ECB's Outright Monetary Transactions program, a measure which was launched in 2012, with conditions.
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Villalon said the ECB must avoid any direct involvement in the financial assistance program that applies to the State concerned.
The ruling was seen as giving the ECB leeway at its upcoming policy meeting on January 22, when many expect it to implement full blown QE measures.
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