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    EUR/SEK to rebound to the 11.30 area or higher before a longer-term decline can materialise – ING

    Source Fxstreet
    Feb 23, 2024 09:52

    EUR/SEK broke decisively through the 11.20 area this week. Economists at ING analyze the pair’s outlook.

    A strong week, but will it last?

    The stronger-than-expected headline CPIF in Sweden, some stickiness in long-term inflation expectations and the global equity rally have all contributed to a strong week for the Krona. Our short-term view on SEK is, however, not as rosy. 

    Risk sentiment might struggle to keep fuelling rallies in high-beta currencies like SEK in the next couple of weeks. 

    The end of FX sales means the downside could be rather slippery for the Krona. 

    We still see EUR/SEK rebound to the 11.30 area or higher before a longer-term decline can materialise.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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