Scandi status as FX safe haven tempered by liquidity concerns
Sweden and Denmark have seen rising interest in their currencies as a safe-haven alternative to other embattled majors, but a comparative lack of liquidity, coupled with the Danish krone's peg to the euro, mean the currencies might not be quite as safe as they appear.
The Swedish krona has appreciated sharply over the past three months, with EUR/SEK trading at 8.4685 on July 27 – levels of strength not seen since 2000 – according to data from Thomson Reuters.
Strategists widely attribute the
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