The euro dropped on Thursday on an increase in United States treasury yields, which were prompted by Federal Reserve Chairman Jerome Powell's remarks. The joint currency traded below the $1.2 mark for the first time since the beginning of February.

Versus the dollar, the euro was down 0.70% at 7:22 pm CET, selling for $1.19772. Against the pound, it fell 0.42% a minute later to change hands for £0.86095.