LONDON—The euro dipped on Monday after a surge last week that followed a hawkish shift by the European Central Bank, as traders turned to the dollar betting the jump in U.S. jobs created in January could lead to faster Federal Reserve rate hikes. The European common currency dropped 0.2 percent to as low as $1.1415, having hit its highest since mid-January on Friday. Those gains had been driven by a hawkish turn from the ECB, which led markets to bring forward the likely timing of eurozone rate rises and sent bond yields sharply higher. “President [Christine] Lagarde’s clear signal that the door has opened for rate hikes later this year is a real game changer for the foreign exchange market,” said MUFG analyst Lee Hardman. “Over the past year the EUR has underperformed on the back of expectations that the ECB will maintain loose policy while the BoE and Fed …