FxWirePro: EUR/SEK slumps to 9.49 on positive Swedish July CPI data
Thursday, August 13, 2015 8:14 AM UTC
- Swedish July Core CPI surprised on the topside today, taking pressure off the Riksbank for further QE and rate cuts
- July core CPI prices up 0.9% y/y vs 0.6% previous, beating market expectations at 0.6% and Riksbank forecasts at 0.7%
- EUR/SEK plunged to 9.49 on data surprise, from 9.5720 and is currently slipping further to 9.4810
- EUR/SEK bull run damaged, prices could target 9.4540 38.2% fibo of 9.17-9.6295 rise