LONDON Feb 7 The euro fell to a session low against the dollar while German bund futures rose to day's highs after a German Constitutional court referred the European Central Bank's bond-buying programme to the European Court.
The German court said it saw substantial reasons to suggest the Outright Monetary Transactions (OMT) exceeded the ECB's mandate, but also considered it possible that it could conform with the law if interpreted restrictively.
The euro fell to a session low of $1.3552 from around $1.3582 beforehand.
German Bund futures rose as high as 144.02, up 69 ticks on the day, having stood at 143.56 before the news. Italian BTP futures trimmed earlier gains.
The pan-European FTSEurofirst 300 trimmed gains after the announcement, trading up 0.1 percent, while the euro zone blue-chip EuroSTOXX50, Germany's DAX and Spain's IBEX all turned negative.