EUR/SEK: 10.60-10.80 range in the near-term – Danske Bank

The SEK strengthened on the back of the Riksbank’s decision to leave the repo rate unchanged at zero, with EUR/SEK trading close to 10.70, per Danske Bank. 

Key quotes

“We cannot rule out a scenario where EUR/SEK establishes a lower range, say 10.60-10.80, in the near-term.” 

“As we have pointed out many times, the FX market is not primarily driven by macro these days.” 

“Global risk sentiment and equity markets will probably continue to be prominent drivers of the SEK, potentially overshadowing macro related news to come.”