GBPSEK – New multi-year highs!

Weak inflation data today drags the Swedish Krona into new long-term lows against a number of currencies. Against the Euro, the Krona is trading firmly above 10.0 – a level last seen in March 2009.
For GBPSEK, the rate soars (GBP strong) to 11.8 at the time of writing. Weak inflation and subdue house prices are causing investors to doubt any rate rise soon. Technically, SEK’s decline is now firmly entrenched and so we expect a further decline of the Krona soon.
All eyes are now on the Syria crisis. With US and Russia presidents both reaching for the trigger button, a geopolitical crisis is about to explode. This may cause setbacks in the financial markets. (Note: sharp moves are already taking place in Russian and Turkish-related instruments.)
 

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