SEK: Reversal in EUR\SEK lower to continue – ING

Analysts at ING expect the downtrend in EUR/SEK to continue this week, with Swedish CPI (Thu) being the key driver for the cross.

Key Quotes

“Another push higher further above the 2% YoY target looks likely (CPIF expected at 2.5%YoY), SEK should benefit - particularly in the context of its still oversold levels.”

“While positive, the data-driven impact on the currency should be one-off as it is unlikely to affect Riksbank’s cautious monetary stance (under the re-appointed dovish Governor Ingves).”