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Nomura Go Long EUR/SEK, Targeting 12.30 by September

SEK
  • Nomura issue new EUR/SEK trade recommendation: long, targeting 12.30 by end-September. They cite an entry of 11.79 with a stop at 11.55
  • They write that these are historic levels for the cross, and while it soon peaked and headed lower in 2009, this time is different.
  • They see Swedish growth as collapsing and is likely to weigh on the currency further, but global central banks such as the ECB and Fed are unlikely to deliver a dovish rescue for SEK longs anytime soon.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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