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Weekly FX Hedging Update Prompts Little Market Response

RIKSBANK
  • Weekly FX hedging operations show the Riksbank sold $350mln and €201mln in the week-ending November 10th, prompting little market reaction.
  • EUR/SEK remains in positive territory, above yesterday's close and holding the recovery off the multi-month lows posted this week at 11.3499. 11.4661 marks first intraday resistance, 23.6% retracement for the Oct-Nov downleg, but resistance seen firmer through the 200-dma of 11.5518.
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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