- Analytics
- News and Tools
- Market News
- USD/SEK and EUR/SEK may grind higher in the unstable risk environment – ING
USD/SEK and EUR/SEK may grind higher in the unstable risk environment – ING
The Riksbank and prompted a short-lived SEK rally as it asked the Swedish Debt Office to consider phasing out the debt currency exposure at a slower pace. Economists at ING analyze Krona’s outlook.
Riksbank steps up FX protest
The Debt Office is planning to bring its debt FX exposure to zero by end-2026: quite a long period for a relatively small residual amount, meaning the impact on the Krona should be negligible.
Even the Riksbank seemed to acknowledge the limited direct implications on the exchange rate but lamented how the debt office is selling SEK while the Riksbank is buying SEK.
The first set of data on the RB's hedging operations is due at the end of this week or next, and will tell us whether – as we are inclined to think – the Riksbank is buying more SEK at higher USD/SEK/EUR/SEK.
The Riksbank seems to have lost some grip on the market with FX operations, and both pairs may grind higher in the unstable risk environment.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
