- EUR/SEK may slide back below 11.70 on a resolutely hawkish tone by the Riksbank – ING
Market news
29 June 2023
EUR/SEK may slide back below 11.70 on a resolutely hawkish tone by the Riksbank – ING
EUR/SEK remains close to historic highs as the Riksbank prepares to announce a key monetary policy decision. Economists at ING analyze the pair’s outlook.
Expect EUR/SEK volatility today
Expect EUR/SEK volatility today: we suspect there are some upside risks and a move to the 11.85/11.90 level is possible as the Riksbank may fail to make a structurally SEK-bearish market change its mind.
By contrast, should we see a resolutely hawkish tone, EUR/SEK may slide back below 11.70.
As we have learned from the April meeting, the spectrum of surprises can be quite wide with the Riksbank.
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