💱 ScandiFX Divergence Seen Over The Last Month: Cable FX Macro
- Rosbel Durán
- Feb 22, 2023
- 1 min read
We have seen the SEK outperform G10 peers over the course of last month, only the dollar has traded stronger during this period of time
Swedish krona gains to the euro have not been extensive as the ground gained to its cousin, NOK. The Norwegian krona has been the worst performer in the G10 over the last month
The move has sent NOK/SEK to trade closer to parity, this is a YTD decline of around 600 pips or 5.7%
It is worth mentioning that the NOK posts strong seasonals during February, the average % NOK/USD over the last 5-years is -1.3%, and it has closed lower 4 out of the last 5 Feb.
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