The pair EUR/SEK it falls on Monday for the fifth consecutive day and trades at 11.30, the lowest level in a week. The analysts of rabobank They believe that the Swedish krona is vulnerable in the short term, but that it will improve in the medium term. They forecast a EUR/SEK of 10.80 six months ahead.
Notable Statements:
“Reflecting the weak economy, the Swedish krona was the worst performing G10 currency in 2022. Sweden’s proximity to Russia was also likely a factor weighing on the Swedish krona in early 2022. So far of the year, has regained some ground against the euro, but has remained lower against the euro, reflecting the ECB’s hawkish stance.”
“The weakness of the SEK has recently raised rumors in the markets about the risk of intervention in the foreign exchange market, although at the moment we see it as unlikely.”
“EUR/SEK has recently tested its 2020 high in the 11.42 zone. The 2009 high is around 11.79. In the near term, the SEK remains vulnerable. However, expectations that growth will be supported in 2024 by a still strong labor market and a recovery in the housing market suggest an improving outlook for the SEK by the end of the year.We see room for a move to 10.80 6 months ahead.”
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.