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EUR/SEK: More troubles for Krona before a recovery – ING

 EUR/SEK: More troubles for Krona before a recovery – ING

EUR/SEK is impending the April highs. Advance-time-frame vulnerabilities dwell elevated, and ING’s baseline situation for a SEK recovery within the second half of of the year faces rising dangers.

Riksbank has made the SEK’s path to recovery even narrower

“Within the advance time-frame, EUR/SEK could well destroy thru the 11.43 April highs and take a look at the 11.50/11.60 home unless the FX market shifts extra decisively in favour of excessive-beta currencies. Even in that situation, we contemplate EUR/SEK could accrued accrued assemble enhance spherical 11.20/11.25 given the Riksbank’s unfavourable legend for SEK.”

“Within the longer scramble, we accrued contemplate that a stabilisation in chance scramble for meals, and a rotation from the dollar to favour European currencies within the second half of of the year can reduction a leisurely decline to the 11.00 home in EUR/SEK. However the Riksbank has likely made the disappear for the SEK recovery an even narrower one.”

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