EUR/SEK: 10.35 seen as a medium-term target – Credit Suisse

Economists at Credit Suisse revise their EUR/SEK target higher from 10.14 to 10.35 following last week’s dovish Riksbank surprise.

Scarce opportunity for monetary policy led gains in SEK in the near-term

“We revise our EUR/SEK target from 10.14 to 10.35, a level that we believe accounts for the still-constructive fundamental story behind the krona, but also reflects the risks that the Riksbank continues to drag its feet behind its more hawkish central bank peers.”

“Our 10.35 EUR/SEK target is admittedly only likely to come into play closer to the 28 April Riksbank meeting.”

See: EUR/SEK to drift lower toward 10.20 as Riksbank announces hawkish pivot in coming months – Rabobank