Intraday Market Thoughts

Archived IMT (2009.06.02)

by Ashraf Laidi
Jun 2, 2009 16:53

SWEDISH KRONE CRISIS: An alternative to selling the dollar against AUD, EUR, GBP and NZD is the Swedish Krone, which has been pummelled as of late following Swedish banks emergency measures to raise funds following $23 billion in loan losses resulting from exposure to Baltic banks. Over a quarter of these estimated losses are related to lending to the Baltics. Swedish interest are already at 0.5%, while GDP fell by over 5%. Long opportunities in AUDSEK and EURSEK ought to be considered.


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