LONDON—The euro shed some of its overnight gains on Thursday after its steepest daily jump since 2016 as traders waited for a European Central Bank meeting and a European Union summit to shed light on the bloc’s policy response to Russia’s invasion of Ukraine. The common currency on Wednesday benefited from a risk-on shift in sentiment which lifted equity markets and bond yields and saw oil prices drop amid optimism about diplomatic efforts to solve what the Kremlin refers to as a “special operation” to disarm Ukraine. The euro has been widely seen as a gauge of Europe’s biggest security crisis since 1945 and touched a 22-month low of $1.0804 earlier in the week with investors expecting a sizeable impact on European growth. At 0849 GMT, the euro was trading at $1.10489, down 0.32 percent after jumping 1.6 percent on Wednesday, its best day since June 2016. Traders were looking …