📝Revising USD/SEK Forecast Lower: Commerzbank

If something unexpected happens between now and the next meeting at the end of the month, the Riksbank could cut the policy rate in September, even if this does not seem to be its base scenario. We do not expect a cut in September either, as leading indicators point to a continuation of the recovery.

In short, everything is basically unchanged compared with June, but at the same time anything is possible. However, as the Riksbank has not become more dovish, the decision should be neutral for the SEK and does not change our view. The weaker USD-SEK forecasts is due to the fact that we lowered our outlook for the USD. - Commerzbank