12 Feb 2015
EUR/SEK jumps to 9.65 post-Riksbank
FXStreet (Edinburgh) - The Swedish krona is rapidly depreciating against the euro on Thursday, sending EUR/SEK to test fresh highs in the 9.6200 region.
EUR/SEK firmer after Riksbank decision
The SEK keeps losing ground after the Riksbank lowered its repo rate to -0.1% for the first time ever, surprising the broader markets that were expecting rates to remain intact at 0.0%. The Nordic central bank also announced a quantitative easing programme, consisting of bond purchases worth SEK 10 billion; it also stressed that it remains ready to act at short notice and justified the decision in the lower consumer prices.
EUR/SEK relevant levels
The cross is now advancing 1.66% at 9.6498 with the next hurdle at 9.7297 (high Dec.16) ahead of 9.7880 (high May 26 2010) and then 9.8800 (high May 24 2010). On the downside, a breach of 9.5280 (high Feb.9) would open the door to 9.4650 (low Feb.12) and then 9.4330 (20-d MA).
EUR/SEK firmer after Riksbank decision
The SEK keeps losing ground after the Riksbank lowered its repo rate to -0.1% for the first time ever, surprising the broader markets that were expecting rates to remain intact at 0.0%. The Nordic central bank also announced a quantitative easing programme, consisting of bond purchases worth SEK 10 billion; it also stressed that it remains ready to act at short notice and justified the decision in the lower consumer prices.
EUR/SEK relevant levels
The cross is now advancing 1.66% at 9.6498 with the next hurdle at 9.7297 (high Dec.16) ahead of 9.7880 (high May 26 2010) and then 9.8800 (high May 24 2010). On the downside, a breach of 9.5280 (high Feb.9) would open the door to 9.4650 (low Feb.12) and then 9.4330 (20-d MA).