EUR/SEK remains rangebound near-term – Danske Bank

By FXStreet FXStreet (Edinburgh) – In view of Jens Pedersen, Senior Analyst at Danske Bank, the cross could keep the trade within the 9.10-9.50 range in the short-term.

Key Quotes

“Following the recent warnings that it may resort to intervention to limit SEK strength, we stress that the Riksbank is now very close to use this option if the SEK appreciation trend continues”.

“Intervention is likely to be defensive, i.e. intervention in response to an ‘excessive’ appreciation of the SEK, and would likely be backed by further rate cuts. We continue to see 9.10-9.50 as a fair range for EUR/SEK near term”.
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Source:: FX Street