FOREX-Euro stung by weaker data ahead of Draghi's ECB swansong

* Euro falls after weaker-than-forecast PMIs
* Dollar steady with no trade war developments
* Brexit limbo keeps pound below recent highs
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

(Recasts on the euro, adds details, updates prices)
By Sujata Rao and Elizabeth Howcroft
LONDON, Oct 24 (Reuters) - The euro erased its earlier gains
on Thursday after business surveys pointed to stagnating
economic momentum in the euro zone, while the Swedish crown
rallied after its central bank stuck to its plan for a December
interest rate hike.
In a busy day for central banks, European Central Bank
President Mario Draghi holds his final press conference after
the rate decision, which is due at 1145 GMT.
While no major announcements are expected and rates are set
to be left unchanged, investors will be closely watching the
news conference for any reference to a rift among policymakers
about stimulus plans designed to reinvigorate the economy.
The weakness of the region was reaffirmed on Thursday when
IHS Markit's flash composite PMI for October, seen as a good
guide to economic health, remained perilously close to the 50
mark that separates growth from contraction and below forecasts.
The euro gave up earlier gains, particularly after a weaker
earlier German reading of the Purchasing Managers' Index, and
was last flat on the day at $1.1129 EUR=EBS , having earlier
traded at $1.1163. The dollar index was flat on the day at 97.494 .DXY .
"Today is going to be all about the ECB," said Rabobank FX
strategist Piotr Matys. "We don't expect the ECB to change the
parameters of its monetary policy," but Draghi may use his last
meeting to encourage governments to use fiscal measures to
propel growth.
A trio of central bank meetings were being held on Thursday,
including the ECB, the Swedish Riksbank and Norway's Norges
bank.
The Swedish crown rose to its strongest against the dollar
since mid-August and gained 0.6% against the euro after the
Riksbank stuck to its plan for raising rates in December, though
it said the rate path after that was not yet clear. SEK=D3
EURSEK=D3 It kept rates steady at -0.25%.
The Norwegian crown slipped 0.1% against the euro as the
Norges Bank said rates were likely to be held at the current
1.5% rate. EURNOK=D3 . The decline was contained by the Swedish
crown's rise. The Norwegian currency gained 0.1% versus the
dollar NOK=D3 .
"We don't think that the SEK gains will last for long,
because this interest rate increase may be interpreted by the
market as a policy rate mistake," said Petr Krpata, chief EMEA
FX strategist and IR strategist at ING, suggesting the bank may
be "hiking into a downturn".
Krpata noted that the Norwegian crown strengthened in line
with the Swedish crown, meaning that its strength is "spillover
from the Riksbank decision".
The Norwegian crown recently reached a record low to the
euro and an 18-year low to the dollar despite rate hikes this
year.
Most Asian currencies edged up in the absence of
developments in the Sino-U.S. trade war. The Australian dollar was down 0.2% AUD=D3 versus the U.S.
dollar and the New Zealand dollar fell as much as 0.4% NZD=D3 .
The pound weakened 0.2% to $1.2893, having chalked up 6%
gains since Irish and British leaders said they could "see a
possible pathway to a deal" on Oct. 10. GBP=D3 .