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EUR/SEK still points to a consolidative range – Danske Bank

FXStreet (Edinburgh) - Jens Pedersen, Senior Analyst at Danske Bank, expects the cross to remain within the broad 9.30-9.60 range.

Key Quotes

EUR/SEK is again approaching the lower end of the 9.30-9.60 range that has prevailed since early July”.

“The upside is capped by fundamentals and the downside has so far been ‘protected’ by the Riksbank or rather by expectations about what the Riksbank might do”.

“We continue to see 9.30-9.60 as a fair range for the next few months”.

“With an additional 10bp rate cut from the Riksbank and more bond purchases in the cards later this year we see some upside to EUR/SEK from the current level”.

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