EUR/SEK: Price reflects Riksbank rate cut – Danske Bank

The EUR/SEK pair raised yesterday due to the market pricing a rate cut by the Riksbank soon, according to economists at Danske Bank. EUR/SEK is currently trading at 10.7488 after slightly falling this morning.

Key quotes

“EUR/SEK is now also edging higher as RIBA pricing increasingly reflects an upcoming Riksbank cut.” 

“Having been surprisingly resilient to the risk-off sentiment these past weeks the krona is now seemingly catching up with reality.” 

“Despite the fact the cross is already closing in on our 6-12M forecasts of 10.80, we do think that risks remain tilted to the upside short term.”