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4 Sep 2015
EUR/SEK seen within 9.30-9.60 range – Danske Bank
FXStreet (Edinburgh) - Kasper Kirkegaard, Chief Analyst at Danske Bank, expects the Swedish krona to navigate within the 9.30-9.60 range for the time being.
Key Quotes
“EUR/SEK took a c.10 figure dive yesterday sparked by EUR-weakness and SEK-strength as the Riksbank left the repo rate unchanged at -0.35%”.
“This has left the cross in the lower end of the 9.30-9.60 range, which we still expect will constitute the boundaries for EUR/SEK”.
“While the Riksbank yesterday made significant adjustments to its inflation forecast, we still believe that Governor Ingves is too optimistic and that he eventually will be forced to cut the repo rate by an additional 10bp and most likely at the December meeting”.
Key Quotes
“EUR/SEK took a c.10 figure dive yesterday sparked by EUR-weakness and SEK-strength as the Riksbank left the repo rate unchanged at -0.35%”.
“This has left the cross in the lower end of the 9.30-9.60 range, which we still expect will constitute the boundaries for EUR/SEK”.
“While the Riksbank yesterday made significant adjustments to its inflation forecast, we still believe that Governor Ingves is too optimistic and that he eventually will be forced to cut the repo rate by an additional 10bp and most likely at the December meeting”.