FX comment: Will USDSEK continue to bounce out of rough?
Sometimes it’s not always obvious what is moving a market. But here’s one reason being suggested for the recent move in USDSEK, which took down to a low of 7.0530 in early August.
As we all know, Tiger Woods may drive pretty straight off a golf tee, but he’s not so good behind the wheel of a car.
Markets wags have seized on the fact that Woods is now divorced from his Swedish wife Elin Nordegren and it has cost him a lot of money. According to the Daily Telegraph: “Experts have said the settlement could be one of the largest in celebrity history, dwarfing the $150 million by Michael Jordan, the basketball star, to his former wife Juanita.”
The paper adds: “Details of the financial settlement Miss Nordegren will receive were not revealed but estimates have ranged from $100 million to $750 million.” So did Tiger dump USDSEK to pay off his wife and now it’s bounced back out of the rough? I have no idea. USDSEK is now around 7.4600.