Swedish Krona May Gain as Geopolitical Tensions Ease
ING sees modest upside for the Swedish krona if French fiscal risks continue to weigh on the euro for longer.
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what happened
The Swedish krona could strengthen modestly if geopolitical tensions ease while French fiscal risks continue to pressure the euro. Dow Jones Newswires reports that ING analysts made the assessment in a research note.
ING expects the Riksbank to raise interest rates by 25 basis points in November and signal additional tightening. External factors, however, are likely to remain the main driver of the krona. The bank said the currency is a less attractive way to express eurozone fiscal risk than the franc or sterling, but was also notably cheap against short-term fair value at the end of last month.
The euro is up 0.1% at 11.2009 krona. ING forecasts a rate of 11.00 in six months and 10.75 in 12 months.
why it matters
The market focus is on the combination of potential Riksbank tightening and longer-lasting pressure on the euro from French fiscal risks. ING nevertheless says external developments remain the key influence on the Swedish currency.
instruments
sources
- Swedish Krona Could Rise if Geopolitical Tensions Ease, French Debt Concerns Persist — Market Talk — Dow Jones Newswires, 12 October 2026 at 13:27 UTC
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