Below 11.00, EUR/SEK can return to levels last seen in early 2023 – Rabobank

The SEK is the best performing G10 currency in the month to date, Rabobank’s FX analyst Jane Foley notes.

EUR/SEK hits a fresh 1 year low and bounces back

“At the end of last week EUR/SEK hit a fresh 1 year low and has since been bumping along close to the 11.12/11.14 support area. A break below could see the currency pair heading to the December 2023 low and Rabobank’s target at the 11.00 mark. A break below EUR/SEK11.00 would see the currency pair returning to levels last seen in early 2023.”