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EUR/SEK greater upside risk seen - UBS

FXStreet (Córdoba) - The UBS analyst team notes that weak Swedish inflation figures increases the risk of another rate cut and therefore higher EUR/SEK.

Key Quotes

“The Swedish inflation rate fell in September to -0.4% from -0.2% in August, while core inflation also fell to 0.3% (prev. 0.5%). This means that both inflation measures are about 0.4 percentage points below the latest forecast of the Riksbank”.

“This greatly increases the risk of another rate cut by the Riksbank at its next meeting on 28 October”.

“The SEK weakened in response and we see greater upside risk for EUR/SEK, especially in the near term. We thus review our EUR/SEK forecasts”. -

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