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EUR/SEK faces potential upside near term – Danske Bank

FXStreet (Edinburgh) - According to Mikael Milhoj, Analyst at Danske Bank, the cross is poised for a recovery in the near term.

Key Quotes

EUR/SEK increased slightly yesterday and is now back above 9.30, supported by a series of dovish comments from the Riksbank’s Skingsley and Ohlsson suggesting that the Riksbank is not content with the recent SEK appreciation”.

“As such, the comments signals that the Riksbank is ready to act, and if KIX stays at current levels, 2% below the Riksbank’s forecast, a move even in October is quite possible”.

“Hence, we expect to see some upward pressure in EUR/SEK over the next few weeks”.

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