• EUR/SEK spiked from 9.3385 to 9.3867 after Sweden inflation data came in weaker than expected
• Sweden June headline -0.4% y/y vs -0.3% forecast, core +0.6% y/y vs +0.7% expected
• CPI release is significant given the Rikbank's heightened sensitivity to inflation data 
• Riksbank cut policy rate by 10-bp to -0.35% early in the month, and could go again 
• Resistance is seen at 9.4110 (Jul 13 high), while daily Tenkan-Sen by 9.3209 offers strong support