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According to Bloomberg, the currency slipped to $1.3273 against the US dollar at 09:22 BST in London, down from $1.3334 in New York yesterday.
And the currency, which is used by 16 nations, also fell against the Canadian dollar and the pound.
A decision on changes to the interest rate is to be announced today by the ECB and Frankfurt-based currency strategist Lutz Karpowitz told the news source that, as a 25-basis point cut is a "done deal", "unconventional measures" are the only factor that will drive the market.
"The possibility of quantitative easing will weigh on the euro," he added.
In related news, the Bank of England is likely to keep interest rates at 0.5 per cent this month, Investec economist Philip Shaw has told Reuters.
