EUR remains bid as ECB sources prompt.........>

FOREX: EUR remains bid as ECB sources prompt market re-pricing

-Reports late yesterday that some ECB members were unsatisfied with the market's

lack of belief in an end-2019 rate hike. European traders added to yesterday's

initial 30 pip rally this morning, bidding EUR/USD briefly back above $1.17

before the move ran out of steam. Traders also eyed reports that Praxair are to

sell EUR 5bln of European assets to Japan's Taiyo Nippon as a factor behind the

EUR/JPY rise back above the Y129.21 50-dma.

-For a third session, the SEK is the top of G10, extending its rise against the

EUR this week to as much as 2.5% as strong domestic production numbers helped

boost the currency. USD/SEK now looks to close below the 50-dma at Sek 8.7853

for the first time since June 13th.

-Most other majors are mixed-to-flat, including the USD and GBP, with focus

turning to the return of US traders today and the upcoming ADP employment number

and FOMC minutes. After the June 25bps hike and the changes to forward guidance,

markets will be eyeing any material shift in the board's judgement of the

economy.