Deutsche Bank AG, the world’s biggest currency trader, and HSBC Holdings Plc, Europe’s largest bank by assets, are both predicting Sweden’s krona has further to rise.
Policy makers in Sweden and Norway are struggling to pound down their currencies through verbal beatings as a search for yield replaces haven demand.
It’s getting tougher for currency traders to catch a break.
The foreign-exchange market is signaling more pain ahead for currencies that benefit from a sustained global recovery, five years after the onset of the worst financial crisis since the Great Depression.
"The real surprise is that there's not been an even bigger sterling selloff in response to this sizable downside surprise."
- Daragh Maher on Oct 14, 2014
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