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Riksbank remains vigilant on SEK – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Senior Analyst at Danske Bank Stefan Mellin has noted the Riksbank’s concerns over the appreciation of the krona.

    Key Quotes

    “The multi-year uptrend in EUR/SEK has come to an end. Instead, a downtrend has emerged over the past couple of months”.

    “From a fundamental viewpoint, this normalisation process should only have started. From a Riksbank perspective, this is a problem: the central bank is being challenged by strong fundamentals”.

    “Hence, it is prepared for currency interventions. We keep our 1M target intact at 9.30 and, based on the new information from the Riksbank, we raise our forecasts further out to 9.30 (9.20) in 3M, 9.20 (9.10) in 6M and 9.00 (8.90) in 12M”.
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