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SEB Look For SEK Selling In Month- & Quarter-End Rebalancing

SEK

SEB note that "this year, rebalancing seems to have had a larger impact than usual especially ahead of quarterly ends like this month. According to our model the monthly need in September is to sell SEK corresponding to 0.6% of the portfolio which is 0.4 standard deviation larger than the average selling need of 0.5% and the second largest selling need so far in 2020, only beaten by the 1.8% selling need in March. According to our model the need for Q3 is to buy EUR and GBP corresponding to 0.4% each of the portfolio and sell USD and SEK corresponding to 0.5% and 0.2% of the portfolio. Compared to Q2 these needs are rather small."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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