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SEK expected to pick up pace – Danske Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    In view of Analyst Kristoffer Lomholt at Danske Bank, the Swedish currency looks poised to appreciate further in the coming periods.

    Key Quotes

    “We have argued that EUR/SEK should trade 9.30-9.50, that is, in the upper end of the bigger 9.10-9.50 range but Riksbank Skingsley's comment Wednesday represents something new”.

    “For sure, Stefan Ingves and Kerstin af Jochnick may not share her view but if there is a marginal shift within the Executive Board in favour of not reacting to every forecast error and to be more tolerant toward a stronger SEK, it should be slightly positive for the outlook for the SEK as well compared to how it was before”.

    “Given that the constructive Swedish macro backdrop prevails, and we think that it will, EUR/SEK should edge lower and to the extent that the RB is ok with that, the fair range has shifted down as well, say to 9.15-9.40”.
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