Flash: EURSEK to fall back towards 8.40 in the coming months - UBS

FXstreet.com (Córdoba) - The release of the latest monetary policy meeting minutes of the Swedish Riksbank confirmed their marginal bias to be on the hawkish side, according to the UBS team.

"At its last meeting on July 3, the Riksbank decided to keep the repo rate on hold at 1.0%. The focus of the Executive Board clearly continues to be on containing high household debt and rising house prices", says UBS. "This underscores our view of no further rate cuts in the coming quarters. We see EURSEK falling back towards 8.40 in the coming months".