EUR/SEK: A recovery for the Krona seems unlikely in the near term – ING

Pressure on swedish Krona has resumed. Economists at ING analyze EUR/SEK outlook.

Hard to pick a top for the EUR/SEK pair in the near term

The lack of any support from the Riksbank is making it hard to pick a top for the EUR/SEK pair in the near term.

The financially-distressed Swedish landlord SBB is reportedly denying rumours about discounted sales of its business units, but a default warning from creditors has emerged and the centrality of the firm in the Swedish real estate space means more risk premium (related to a property market collapse) could be priced into SEK now. 

A recovery for the Krona seems unlikely in the near term.