Justin had the Swedish central bank big news overnight - the Riksbank hiked rates by 25 bps, becoming the first country in the world to leave the negative rates experiment - after having gotten themselves into it back in 2015.
Says GS now:
Swedish Krona "is now our preferred long in G-10 FX"
- domestic economy is poised for growth
- Riksbank's move support the SEK
More:
- "The small, open Swedish economy should allow SEK to benefit from the turn in global growth that our economists are projecting" for 2020
- Riksbank's monetary policy move "reveals an aversion to negative rates that should also help support the currency, and SEK depreciation in recent years has put the economy in a better position than many of its peers"