The research team at Danske Bank point out that yesterday, the Riksbank announced it plans to add NOK and DKK to its currency reserve portfolio, meanwhile indicating it will raise USD exposure and reduce EUR exposure.
“The change in composition is set to take place in Q1 19. The new investment policy is motivated by a need for contingency and aims to capture better the short-term funding needs of the Swedish banks.”
“This will imply USD, NOK and DKK buying and EUR selling. However, we do not expect this to have any material impact on the market, as the amounts are still negligible relative to total market turnover.”
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.