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The 18-nation shared currency weakened on speculation the ECB will proceed with a quantitative-easing program, a move that tends to weaken a currency. The Australian dollar dropped against all but one of its 16 major peers after central bank Deputy Governor Philip Lowe said yesterday the currency will probably depreciate further. An index of dollar strength was little changed before a report economists said will show orders for durable goods slid for a third month.

“The comments from Constancio are likely to add to market expectations that the ECB could take further action in the coming months,” said Ian Stannard, head of European foreign- exchange strategy at Morgan Stanley in London. “This will increase the focus on the inflation data from Europe. Soft consumer-price readings will put the euro under pressure.”

The euro fell 0.2 percent to 146.88 yen at 7:54 a.m. New York time. It was little changed at $1.2476. Japan’s currency appreciated 0.2 percent to 117.71 per dollar.

The euro has tumbled about 11 percent from this year’s peak of $1.3993 set in May, and touched a two-year low of $1.2358 on Nov, 7, as traders added to bets the ECB would boost stimulus at the same time as the Federal Reserve moved closer to raising interest rates.

The ECB may “have to consider buying other assets, including sovereign bonds in the secondary market, the bulkier and more liquid market of securities available,” Constancio said in a speech in London. “It would be a pure monetary-policy decision, buying accordingly to our capital key, within our mandate and our legal competence.”

U.S. Data

U.S. data on initial jobless claims, durable goods, consumer confidence, home sales and personal spending are due today before the Thanksgiving holiday. The Organization of Petroleum Exporting Countries meets in Vienna tomorrow. Discussions between Venezuela, Saudi Arabia, Mexico and Russia yesterday ended with no pledge to reduce supplies.

The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major peers, was little changed at 1098.82 after touching 1,102.87 yesterday, the highest since 2009.

The dollar has outperformed all 16 of its major peers this year as the U.S. economy expanded. Gross domestic product grew at a 3.9 percent annual rate in the third quarter, exceeding all forecasts of economists surveyed by Bloomberg and up from an initial estimate of 3.5 percent, the Commerce Department said yesterday.

Australian Dollar

The Aussie dropped 0.3 percent to 85.09 U.S. cents for a third day of losses, the longest streak since Sept. 29. It reached a four-year low of 84.80 cents.

“If the exchange rate is to play its important stabilizing role, it needs to go down when the terms of trade and investment are declining,” Lowe said in his speech. “We have seen some adjustment, but if our assessment of the fundamentals is correct we would expect to see more in time.”

Lowe’s comments came just a week after Governor Glenn Stevens said there was a “‘pretty material risk’’ that the nation’s currency would go lower. Assistant Governor Christopher Kent said on Nov. 13 that intervention in foreign-exchange markets remained ‘‘an option’’ for RBA if needed to push the Australian dollar lower.

Prices of iron ore, Australia’s largest export, have dropped as demand from China slowed. Iron-ore futures for May delivery slid 2.7 percent on the Dalian Commodity Exchange yesterday.

‘‘The Aussie dollar is falling as the market is nervous given the frequency of jawboning from policy makers,’’ said Jane Foley, a senior currency strategist at Rabobank International in London. ‘‘Falling commodity prices also weigh on sentiment.’’