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SEK Firms as FX Hedging Program Confirms No EUR Sold

RIKSBANK
  • The Riksbank confirm the details of their FX hedging program flows, with USD 390mln sold in the first week, but no EUR sold across their forex reserves.
  • EUR/SEK slips slightly lower on those FX sales headlines, with EUR/SEK touching pullback lows of 11.5244 before stabilising.
  • USD/SEK moves similarly, printing 10.9154, but steering clear of yesterday's lows.
  • EUR/SEK support undercuts at 11.5172 ahead of the 200-dma of 11.4914.

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