In an interview with DN on Thursday, Riksbank Governor Erik Thedeen said that the weakness in the Swedish Krona (SEK) is unjustified.

Key quotes

"We are concerned about the development of the crown. It is not good that it is this weak, nor is it justified. The crown is undervalued.”

"There is a lot of talk about the crown, even in the Swedish media, that it is a junk currency. It is not an accurate picture.”

"There are many things that make us very far from a country with a collapsing currency.”

EUR/SEK reaction

The Swedish Krona (SEK) failed to find any comfort in the conciliatory remarks from the Swedish central bank Governor. The EUR/SEK pair jumped above 11.85 in an immediate reaction to his comments, currently trading at 11.8568, up 0.11% on the day.