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EUR/SEK Underperforms as Thedeen Retains Hawkish Bias

SEK
  • EUR/SEK extends lower on the back of the comments from Riksbank's Thedeen (most notably: underlying inflation in January is "worrying", as well as comments stating his confidence in the orderly nature of housing price declines).
  • EURSEK the early underperformer, with the cross nearing yesterday's lows of 10.9882. A break below here puts EUR/SEK at the lowest levels since mid-December and exposes 10.8927, the 50% retracement for the Aug - Feb upleg.

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