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With EUR/SEK touching fresh nine-year......>

EURO-SEK
EURO-SEK: With EUR/SEK touching fresh nine-year highs today it's unsurprising to
see EUR/SEK options volumes going through the roof: roughly $2bln of EUR/SEK
options have been bought so far today, close to twice the usual daily volume. On
Mar16, we wrote that SEK strength was a headfake and further weakness was
forthcoming over the dividend season:
-As many as 150 Swedish firms pay dividends from end-March to May during which
EUR/SEK tends to rise. Of the past five years, EUR/SEK has risen in every April
and May month except two, meaning SEK has weakened across 80% of all
dividend-paying months.

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