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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