Sweden’s economy is very open and it still faces a harsh downturn meaning that the SEK may still be vulnerable, per Rabobank.
Key quotes
“There is speculation that the Riksbank could be forced to cut rates at its April 28 policy meeting.”
“EUR/SEK has been on an upward trend since 2012. If rates are pushed back below zero, the risk of a further extension of the uptrend will increase.”
“Having spiked to 11.20 in the middle of last month, EUR/SEK has settled down into a 10.85 to 11.00 range this month. We currently see EUR/SEK remaining close to the current range on a 1 to 3-month view.”
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