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EUR/SEK risks a squeeze higher – Danske Bank

FXStreet (Edinburgh) - Analyst Kristoffer Lomholt at Danske Bank sees the likeliness of the cross to edge higher in the near term.

Key Quotes

“Short term, EUR/SEK should bounce further given that the latest move lower in EUR/SEK has been driven by aggressive ECB expectations”.

“Still, the trading range for EUR/SEK has moved lower to 9.10-9.50 and the market is likely to test the Riksbank’s willingness to maintain a weak SEK”.

“We expect the Riksbank will cut interest rates by 10bp on 15 December which is not fully priced and should cap the downside in EUR/SEK”.

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