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The common currency tumbled 0.9 per cent to 103.25 yen and 0.5 per cent to $1.3346, reported Bloomberg.
This was its first drop against the dollar in four days and it came after the ECB cut its interest rate to the record-matching level of one per cent in an attempt to stem recession fears.
Lee Hardman, a currency strategist at Bank of Tokyo-Mitsubishi UFJ in London, told the news provider that while many of the measures were as expected, some epxerts felt the ECB could have gone further.
"There's disappointment feeding into the market that the ECB gave no clear signal that it's willing to aggressively increase bond purchases," he said.
Mr Draghi warned that increasing financial tensions were continuing to place pressure on the market.
Posted by Greg Secker
