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EUR/SEK rangebound between 9.30-9.60 – Danske Bank

FXStreet (Edinburgh) - Senior Analyst at Danske Bank Sverre Holbek believes the cross could remain trading within the 9.30-9.60 range in the near to medium term.

Key Quotes

“The improving risk appetite is spilling over into Scandi currencies with in particular EUR/SEK falling sharply”.

“We expect that EUR/SEK will continue to respect the 9.30- 9.60 range given the threat of further Riksbank rate cuts”.

“Interestingly, FX flow data from Norges Bank for the week including the Norges Bank rate cut last week showed that the weakening of the NOK was far greater than what a historical/statistical relationship would suggest, supporting an underlying liquidity- and risk premium in NOK”.

“We expect EUR/NOK to stabilise in coming weeks forecasting EUR/NOK at 9.40 in 1M”.

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