EURSEK to see choppy activity around the 10.90 level – Rabobank

Since late October, the Swedish Krona has been recovering some ground versus the Euro. However, economists at Rabobank expect the EURSEK to remain choppy around the 10.90 mark.

Limited scope for a strong uptrend in the value of SEK vs. the EUR

“While a 75 bps rate hike from the Riksbank could bring some additional near-term support, the possibility that the market will be unwinding some of its rate hike expectations for 2023 suggests limited scope for a strong uptrend in the value of SEK vs. the EUR.” 

“We expect to see some choppy activity around the 10.90 level on a one to three-month view.”