EUR/SEK has moved lower over the last weeks. Economists at Danske Bank remain bearish SEK over the medium term.

Negative stance on the SEK

“Relative monetary policy is in the driver’s seat and we deem it slightly supportive for EUR/SEK in a 3-6M perspective. In addition, the bleak growth outlook globally and for Sweden, in particular, is adding to SEK headwinds and remains a factor why we expect EUR/SEK to move higher over the 12M horizon.”

“We expect EUR/SEK to move towards 11.50 over the coming year.”