Hardy: Why the Swedish krona’s looking rough

The Swedish krona’s strength is unlikely to continue and we could soon see quite a pivot downwards. That’s according to John Hardy, Saxo Bank’s Head of FX Strategy. John says it’s around its highest levels against G10 currencies in recent years but he wonders where any more support will come from.John says weaker asset markets will accompany that move downwards. Any trader looking for less exposure to major currencies might want to consider the SEK and the Norwegian krone (NOK) pair. He believes we could see a “Nokkie:Stokkie” upside towards the end of the year.