A BBG ECB source story pushed up..............>

FOREX: A BBG ECB source story pushed up expectations of an ECB hike, boosting

the EUR, as the report noted that some see ECB members see a rate hike at the

end of 2019 as too late. EUR/USD squeezed to $1.1682, EUR/JPY stalled ahead of

Y129.00. Prior to this, FX markets slowed as the U.S. Independence Day holiday

kicked in.

- SEK outperformed for the second consecutive session after a strong Swedish

Services PMI release added to the SEK's Riksbank-based momentum. EUR/SEK moved

through the 100-DMA to print lows of SEK10.2243.

- GBP/USD consolidated above $1.3200 for the balance of the session, underpinned

by a strong UK Services PMI print. Markets pricing of an August BoE hike edged

higher (72% from 64%) according to MNI Pinch. EUR/GBP trades just below the

200-DMA (GBP0.8822).

- Commodity linked FX was largely flat vs. USD.

- Focus on Thursday is on BoE's Carney, ECB's Weidmann, Mersch & Nowotny, US ADP

Employment, ISM Non-Manufacturing PMI & June FOMC Meeting Minutes.