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1 Apr 2015
EUR/SEK year-end target remains at 9.10 – BAML
FXStreet (Edinburgh) - According to analysts at BAML, the cross could head towards the 9.10 area by the end of the current year.
Key Quotes
“The SEK strength was due in large part to consistently positive Swedish data, but also to a perception that Riksbank easing would be no match for the scale of ECB easing, a feeling we share”.
“Developments in the Swedish economy remain positive, and inflation also shows signs of bottoming, a move that the Riksbank clearly does not want to risk by allowing SEK to strengthen too far”.
“The path of the currency will likely continue to be a tug of war between positive data and Riksbank and ECB policy. We maintain our medium term positive outlook”.
“Ultimately, the medium term outlook for SEK remains positive. Inflation and inflation expectations remain the most important data releases to watch, but the level of SEK becomes an additional important gauge of Riksbank action”.
“We adjust the front end of our forecasts, moving 2Q15 to 9.30, but maintain our year end target at 9.10”.
Key Quotes
“The SEK strength was due in large part to consistently positive Swedish data, but also to a perception that Riksbank easing would be no match for the scale of ECB easing, a feeling we share”.
“Developments in the Swedish economy remain positive, and inflation also shows signs of bottoming, a move that the Riksbank clearly does not want to risk by allowing SEK to strengthen too far”.
“The path of the currency will likely continue to be a tug of war between positive data and Riksbank and ECB policy. We maintain our medium term positive outlook”.
“Ultimately, the medium term outlook for SEK remains positive. Inflation and inflation expectations remain the most important data releases to watch, but the level of SEK becomes an additional important gauge of Riksbank action”.
“We adjust the front end of our forecasts, moving 2Q15 to 9.30, but maintain our year end target at 9.10”.