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First Deputy Governor of the Riksbank Kerstin af Jochnick crossed the wires in the last minutes noting that the risk of hard Brexit had increased. Regarding the current state of the Swedish economy, Jochnick said that June and July outcomes were in line with their inflation forecasts and that they were expecting decent growth of the economy.

“The recent data doesn’t suggest dramatic slowdown of the world economy,” Jochnick argued. “The market is more pessimistic than Riksbank.”

The EUR/SEK pair retreated slightly from the 12-day high that it set earlier in the session and was last seen trading at 10,7697, still adding 0.4% on a daily basis.