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EUR inching higher to touch best levels of the session on those Reuters headlines - EUR/USD prints 1.2129 before fading off the highs. Bund futures see additional weight, hitting the session's lowest levels at 177.05.

Reuters cite sources in reporting that the ECB are unlikely to cut the policy rate, with benefits of such a move seen as limited. Instead, sources report that the ECB are focusing on financing conditions, including bond prices, lending rates in policy decisions and much less on exchange rates.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com