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SEK could see some support in the next months – Danske Bank

Allan von Mehren, Chief Analyst at Danske Bank, noted the Swedish Krona could regain some pace in the next months.

Key Quotes

“In the Scandies, the SEK has seen support from not least the Riksbank’s Skingsley’s comment that the Riksbank can be more flexible (vis a vis ECB) now that inflation and ditto expectations are close to 2%”.

“Needless to say, the Riksbank’s ECB dependence is key for EUR/SEK given that the cross has been treating the RB as an ECB derivative for quite some time. If more members express this view it could lend some support to the SEK”.

“One guess is that Ohlsson and Flodén reason in a similar way. However, the other three members lead by Ingves – the majority – may not want to send any such signals”.

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