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BREAKING: SEK drops after Riksbank decision

9:33 AM 1 February 2024

Riksbank announced its first rate decision of 2024 today at 8:30 am GMT. Interest rates were expected to be left unchanged, with the main policy rate staying at 4.00%. However, Bank noted in a statement that the policy rate may be cut sooner than was indicated at the November meeting and that a rate cut in the first half of the year cannot be ruled out.

SEK weakened following the decision, with EURSEK jumping above the 50-hour moving average.

Source: xStation5

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