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Outperforms G10 Amid Little Domestic Newsflow

SEK

There has been little in the way of headline flow/cross-market impetus to drive SEK's outperformance today, with the latest leg lower in EURSEK enabling a breach of the May 9 low at 11.1622. This sees the cross trade at its lowest level since March, currently 0.5% lower at 11.1423.

  • A reminder that last week saw November CPIF come in lower than expected on both the core and headline prints, further justifying the Riksbank's decision to hold rates at 4.00% at the November meeting.
  • The domestic docket is quiet until Wednesday, when Riksbank Governor Thedéen speaks on the economic situation and current monetary policy. This provides the first opportunity for markets to judge the Executive Board's reactions to the latest inflation print.
  • On the data front, the December Economic Tendency Indicator highlights on Thursday.

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