According to major Nordic bank Nordea, there are still downside risks in the Swedish currency as a lot of investors still have long krona positions in their trading books. “We still judge that the market positioning is long on the SEK, in contrast to what one should expect after a period of weak SEK performance. This of course leaves the risk of further corrections high”, Nordea strategists wrote in a market report published yesterday. Notably, the SEK is now about 6 percent weaker than what the Swedish central bank anticipated during its latest policy meeting in February. The value of the Swedish krona has declined sharply. In the past year, the value loss against the euro is 8,6 percent, a significant move in currency markets which normally are much less volatile than equity markets. At the moment, the kronor to dollar at 8.7560 Swedish crowns - the highest level since December 2009. The Swedish Central Bank continues with its ultra-easy monetary policy, which is dragging down the krona. Currently, the policy rate is in negative territory standing at -0,5 percent. The price correction in the Swedish housing market has further contributed to a weakening of the currency. Since the peak in the summer of 2017, home prices are down about 10 percent.