The stars of the European Union sit on banners flying outside the European Central Bank headquarters in Frankfurt, Germany, on July 20, 2017. Krisztian Bocsi | Bloomberg | Getty Images

The euro jumped against the dollar on Thursday after the European Central Bank said it could revisit its communication stance in early 2018, boosting expectations that policymakers are preparing to reduce their vast monetary stimulus program. With the euro zone seeing its best growth in a decade, the ECB should gradually shift its stance to avoid a more disruptive move later and look at a broader revision of its policy guidance to reduce the focus on bond purchases and raise the emphasis on interest rates, accounts of the ECB's December meeting showed.

European Central Bank President Mario Draghi at a press conference in Frankfurt, Germany, on January 19, 2017. Krisztian Bocsi | Bloomberg | Getty Images

"It's certainly more of a hawkish tilt in the minutes," said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto. "This has been long expected but there was more formality in the minutes around how the bank will manage the forward guidance process as they exit unconventional policy," Schamotta said. "There was quite a bit of money sitting on the sidelines looking for this hint." The euro was up 0.73 percent to $1.2032, on pace for its biggest single-day percentage gain against the greenback in about two months. "This ought not to be a big surprise, given the pace of recovery we have seen and time horizon for the QE program, but it has nevertheless given euro bulls a reason to be more confident," Neil Wilson, analyst at ETX Capital said in a note.