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EUR/SEK should fall to 8.90 in 6 months - UBS

FXStreet (Córdoba) - The UBS analyst team notes that EUR/SEK should fall to 8.90 over six months as inflation starts to pick up in Sweden.

Key Quotes

“In line with consensus expectations, Swedish CPIF inflation (excluding mortgage interest rate effects) slowed down from 0.6% to 0.5% in August”.

“Low inflation remains a concern for the Riksbank, but we take the recent stabilization of TNS Prospera inflation expectations as an encouraging sign of no further worsening”.

“Weaker Swedish krona and stronger expected GDP growth in 1Q15 should by then bring CPIF inflation above 1%. We thus stick to our view that EUR/SEK should fall 8.90 over six months”.

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