21 Jul 2014
Scandies seen higher in six months - UBS
FXStreet (Córdoba) - The UBS analyst team note that Scandies are recovering after the surprisingly loose monetary policy of their central banks and they expect the EUR/NOK and the EUR/SEK to continue falling over the next six months.
Key Quotes
“The EUR/NOK fell to 8.35 on Friday. The dramatic events in the Ukraine and related worries about gas supply from Russia might have contributed to this, but we would also highlight a general recovery of the Scandies after the surprisingly loose monetary policy of their central banks lately”.
“However, in the direct aftermath of these surprises, the appreciation potential for the Scandis is likely limited. Over six months, though, we remain confident in significantly lower EUR/SEK and EUR/NOK rates”.
Key Quotes
“The EUR/NOK fell to 8.35 on Friday. The dramatic events in the Ukraine and related worries about gas supply from Russia might have contributed to this, but we would also highlight a general recovery of the Scandies after the surprisingly loose monetary policy of their central banks lately”.
“However, in the direct aftermath of these surprises, the appreciation potential for the Scandis is likely limited. Over six months, though, we remain confident in significantly lower EUR/SEK and EUR/NOK rates”.