The market is looking for a 50bp rate cut from Sweden's Riksbank today, ING’s FX Analyst Chris Turner notes.

Riksbank can impact EUR/SEK even with a 25bp rate cut

“The market prices a 44bp cut today and the bigger EUR/SEK impact would likely come from just a 25bp rate cut. Like other currency pairs, EUR/SEK has come a long way quite quickly over the last month and some consolidation may be due.”

“But corporates might seek to take advantage of any short-term correction to the 11.55/60 area given the SEK could prove a victim of the looming trade war.”