The EUR/USD slumped to the lowest since January and hit a fresh session low on a Reuters report that cited Merkel's rejection to review the capacity of the ESM at 500 billion euros after in the Brussels Summit last week and as the European Commission reiterated today will be kept under review till March.

The EUR/USD slumped heavily to trade at the session low and currently around $1.3066 down almost 0.92% from opening levels of $1.3188 and off the high set at $1.3235.

Stocks also surrendered the gains to the remarks with the STOXX 50 down nearly 0.42% at 2259.95 down from earlier highs in the session set at 2289.22 and around the low set at 2256.02.