SEK strengthens, despite below forecast Q3 GDP numbers

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Has SEK turned a corner?

Swedish Krone futures against EUR & USD available at CME Group

On November 29, Sweden released their Q3 GDP growth rate figure as 1.60% YoY, below consensus forecast of 1.85%.

Despite this, SEK strengthens against EUR, reaching levels last seen in July this year. After soft growth over three quarters, a December rate hike by Riksbank is nowhere close to being a done deal.

Take-a-look at our economist, Erik Norland’s view on the SEK and what it will take, for the Krone to hit the bottom or rebound.

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