• EUR/USD drops 0.40% to 1.0742, influenced by Powell's hawkish remarks and rising US Treasury yields.
• Powell emphasizes Fed's inflation target commitment, suggesting mid-year policy tweaks.
• US January labor market strength bolsters USD, contrasting with Eurozone's economic fragility.
• Euro falters as US Dollar Index climbs, with ECB policy easing expectations and focus on central bank moves.

The Euro (EUR) extended its losses against the Greenback (USD) in early trading during the New York session, down 0.40%, sponsored by high US Treasury yields and the strong US Dollar. Federal Reserve Chair Jerome Powell's Sunday interview delivered a hawkish message to the detriment of other G10 FX currencies. At the time of writing, the EUR/USD trades at 1.0742 after hitting a high of 1.0785.