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📉SEK Effective Exchange Rate Resumes Decline: Cable FX Macro

  • A measure of the Swedish krona real effective exchange rate constructed by Citi resumed its decline on August, SEK REER nears all-time lows seen during the summer

  • The August drop of 140 basis points is extending during September

  • Earlier in the session, we heard remarks from the Riksbank saying that the krona is undervalued and that a repricing could be sudden. Deputy Governor Floden added that FX intervention tends to be expensive and does not see this as an effective tool

  • EUR/SEK is trading at 11.929, USD/SEK quotes at 11.125



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