Update on G10 and Asian FX

This SEB report provides a data-driven update on short-term fair value deviations for G10 and Asian currencies. It highlights significant USD overvaluation against GBP and SEK undervaluation against major peers.

Key Takeaways

• 1.The US Dollar (USD) is currently overvalued against most G10 currencies, particularly reaching a +1.0 standard deviation against GBP.
• 2.The Swedish Krona (SEK) is broadly undervalued against its peer group, showing the deepest misvaluation against the CHF (-1.2 St Dev).
• 3.USD is slightly undervalued against the Norwegian Krone (NOK) with a -0.2 standard deviation deviation.

Table of Contents

• Update on G10 and Asian FX
• Misvaluations USD vs ccy
• Misvaluations SEK vs ccy
• Misvaluations NOK vs ccy
• Misvaluations Asian FX vs USD

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