The euro fell against its major opponents in the European session on Thursday, following a media report that the policymakers of the European Central Bank are debating a temporary increase in asset purchases after ending the pandemic emergency purchase programme in March 2022.

The move will be discussed at its meeting next week as the pandemic emergency purchase programme expires in March.

Reuters report added that the size of asset purchases from April will be significantly lower than the current stimulus measures.

Open-ended increase in purchases under the asset purchase programme is not likely and the duration will be limited.

Data from Destatis showed that Germany's exports rebounded in October.

Exports grew by adjusted 4.1 percent on a monthly basis in October, reversing a 0.7 percent fall in September. Economists had forecast an increase of 0.9 percent.

The euro weakened to 1.0420 against the franc and 1.1316 against the greenback, down from its prior highs of 1.0443 and 1.1345, respectively. The euro may locate support around 1.02 against the franc and 1.11 against the greenback.

Pulling away from its previous highs of 129.07 against the yen and 0.8591 against the pound, the euro dropped to 128.34 and 0.8568, respectively. If the euro slides further, it may find support around 128.34 against the yen and 0.8568 against the pound.

In contrast, the euro bounced off to 1.6655 against the kiwi and 1.5826 against the aussie, after dropping to 1.6596 and a 10-day low of 1.5769, respectively in early trading. The euro is poised to challenge resistance around 1.68 against the kiwi and 1.60 against the aussie.

The euro was trading higher against the loonie, at 1.4351. On the upside, 1.45 is seen as its next resistance level.

Looking ahead, U.S. weekly jobless claims for the week ended December 4 and wholesale inventories for October will be out in the New York session.

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