EUR/SEK remains bullish near term – Danske Bank

Senior Analyst at Danske Bank Kristoffer Lomholt said the Swedish Krona is expected to lose further ground in the next weeks.

Key Quotes

“Both NOK and SEK underperformed substantially versus most G10 currencies yesterday despite the positive risk appetite on global markets”.

“Price actions probably reflect some positioning ahead of today’s election and both EUR/SEK and EUR/NOK have fallen back overnight after EUR/SEK temporarily spiked above the 10 figure yesterday”.

“In the short term, the trend in EUR/SEK is still pointing higher as a Riksbank rate cut in December is still not priced in. We target 10.00 in 1M but see risks skewed to the upside in the coming month”.