FXStreet — the appreciation of The Euro compared to the US Dollar, a positive signal should have an effect on the European G10 currencies, because of the strong Euro is likely to trigger a change of tide in Europe and so the European FX-universe upgrade (even the battered currencies such as the Norwegian Krone (NOK) and the British pound (GBP).
For European currencies, we see more risks on the top than the other way around, especially against the USD. The base has a stronger EUR/USD .
Short positions on the USD/SEK should run very well, probably even better than long positions in the EUR/USD. The reason for this is the insufficient extension of the purchase programme of the Riksbank (15 billion SEK in the second half of the year is while you actually need according to our estimates, around 80 billion SEK, to beat the ECB-QE). In addition, the EUR/SEK is overvalued in the medium term, is undeniable. Our fair value for the currency pair is at around 9,00.
** FXStreet News Editorial, FXStreet**
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