The shared currency of the European Union edged down on Friday against the world's reserve currency, yet still was poised to mark weekly gains against its rival, Bloomberg reports.
Germany's top judicial panel raised questions about the plan of the European Central Bank to help member nations recovering from the sovereign debt crisis. Germany hosts the bloc's strongest economy. The ECB is slated to convene next month, when the body is likely to address inflation.
"We remain firmly determined to maintain the high degree of monetary accommodation and to take further decisive action if required," President Mario Draghi with the European Central Bank said, according to Bloomberg. "We firmly reiterate our forward guidance. We continue to expect the key ECB interest rates to remain at present or lower levels."
The euro fell roughly 0.2 percent against the U.S. dollar yet pushed toward weekly advances of about 0.6 percent against the greenback. The euro moderately dipped about 0.1 percent against the Japanese yen and has marked climbs of roughly 0.7 percent against the yen since the end of January.
The German judges challenged whether the Outright Monetary Transactions program exceeded the jurisdiction of the European Central Bank, according to Reuters.
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