NOK appears supported, SEK stays under pressure – Danske Bank

The Swedish Krona is seen under some pressure in light of the upcoming elections, while its Norwegian counterpart appears supported on the probable hike by the Norges Bank, commented Jakob Christensen, Chief Analyst at Danske Bank.

Key Quotes

“Within the Scandi universe, we think it most likely that NOK will find support short term as a Norges Bank rate hike is drawing closer”.

“Meanwhile, we think the SEK will stay under pressure because of the likely messy Swedish September election outcome. As for the Riksbank, it is still an open question as to whether it will maintain its repo rate forecast in September or signal a slower hiking path”.