EUR/SEK is trading in the 10.85/10.90 range. Economists at ING expect the pair to remain elevated for the time being before moving back lower in the second half of 2023.

Moderately bearish scenario for EUR/SEK in 2023

“We currently see some upside risks (to 11.00) for the EUR/SEK pair in the short term driven by a renewed deterioration in market sentiment, especially in Europe.”

“For 2023, we forecast a moderately bearish scenario for EUR/SEK, targeting 10.40/10.50 in the second half of next year.”