“The SEK will be in the spotlight today due to the Riksbank’s non-policy meeting“.
“The new Riksbank will likely act given the latest very disappointing inflation print: we expect a 10bp rate cut”.
“Importantly, however, we see a considerable risk of a larger cut (i.e. 25bp) and we therefore regard risks as skewed towards a weaker SEK today”.
“We still expect EUR/SEK to be locked in a range for most of the year with the upside capped by relative fundamentals, ECB QE and the downside protected by the Riksbank”.
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