The euro dropped compared to the United States dollar and the British pound on Thursday after the European Central Bank noted that it will likely raise interest rates in July and September and that it expects that "a gradual but sustained path of further increases in interest rates" will follow after that.
In addition, the ECB announced that its net asset purchases will end on July 1.
The euro was 0.54% lower against the dollar at 5:33 pm CET, trading at 1.06593. The Eurozone currency decreased by 0.47% against the pound to change hands for 0.85080 at 5:35 pm CET.
