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EUR/SEK: further decline is not ruled out – Danske Bank

FXStreet (Edinburgh) - Senior Analyst at Danske Bank Signe Roed-Frederiksen sees the likeliness of the cross to grind lower in the near term.

Key Quotes

“EUR/SEK is still hovering around the 9.30 level and we expect Riksbank board members to add to recent verbal intervention to curb SEK strength with Floden on the agenda again today”.

“Crucially, the September CPI report will be out this morning and given our below consensus forecast for inflation we expect the SEK to come under pressure as expectations for more Riksbank easing are building”.

“We stress that if nothing is delivered at the October meeting we could see a significant dip in EUR/SEK as the market would then test the Riksbank commitment to curb SEK strength”.

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