EUR/SEK to rebound toward the 10.50 area over the coming weeks – ING
|
The Swedish krona rally may have gone a bit too far. Analysts at ING expect the EUR/SEK pair to advance towards the 10.50 zone over the coming weeks.
Riksbank-ECB rate differential still points to some weakness in EUR/SEK
“The big rebound in the SEK may have come too early, as its exposure to a worsening economic outlook in the eurozone and high beta to risk sentiment suggest some room for a correction now.”
“We see scope for some rebound in EUR/SEK to the 10.50 area (driven by a SEK correction) over the coming weeks. Later on, the Riksbank-ECB rate differential still points at some weakness in the pair, but a return to sub-10.00 levels may need to wait for some improvement in EU sentiment in 2023.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.