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Further SEK appreciation appears on the cards – BAML

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - BofA Merrill Lynch Global Research expects the Swedish krona to gradually gather further traction and the Riksbank to refrain from easing further in the medium term.

    Key Quotes

    “As we move into 2016, however, we see less urgency for the Riksbank to maintain the level of aggressive policy response that has characterized this past year”.

    “With the Swedish economy performing well, supported by accommodative policy and also benefiting from a pickup in the Eurozone–Sweden’s main trading partner –it will become prudent to reduce the intensity of accommodation”.

    “Tightening remains well in the future, but a less proactive policy stance should allow SEK to appreciate gradually vs. EUR, in line with our forecasts and consistent with the Riksbank’s own expectations”.
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