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- EUR/SEK to approach 10.70 in the coming days as geopolitical situation remains volatile – ING
EUR/SEK to approach 10.70 in the coming days as geopolitical situation remains volatile – ING
Sweden's krona has been an accurate benchmark for geopolitical tensions in Ukraine. Analysts at ING expect more volatility and downside risk for the SEK this week.
Riksbank minutes in focus amid geopolitical turmoil
“USD/SEK may edge back above 9.40 and EUR/SEK could approach 10.70 in the coming days.”
“We still expect European currencies to emerge as underperformers if tensions in Ukraine escalate further: the high-beta Norwegian krone and Swedish krona, in particular, remain highly vulnerable.”
“Markets will be watching the minutes of the Riksbank’s 9 February meeting. The Riksbank is largely seen as well behind the curve with its projections, so it will be key to see whether there was some opposition among members against the ultra-dovish stance. Any signals in this direction could give some help to the krona, although external factors should overshadow any Riksbank-related moves.”
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