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Forex Strategy: EURSEK Sold on ECB Rate Cut Bets

Forex Strategy: EURSEK Sold on ECB Rate Cut Bets

2012-12-20 11:01:00
Ilya Spivak, Head Strategist, APAC
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I sold EURSEK at 8.7315 expecting Riskbank switch to a neutral following this week's 25bps rate cut and a view toward the begining of ECB easing in the year ahead as falling bond yields normalize policy transmission. The initial objective of 8.6760 has been met and I am now targetng 8.5511. I will look to add to the position on a daily close below that level. A stop-loss will be triggered on a daily close above 8.7941.

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