The invention relates to a frequency-modulated transceiver wherein the transmitter comprises a frequency-modulated high frequency oscillator (1) and the receiver comprises, coupled to a cascade, a high frequency mixer (2) whose local oscillator signal is a modulated output signal from the high frequency oscillator (1), and an intermediate frequency mixer (4) having an intermediate frequency local oscillator signal containing transmission modulation. In accordance with the invention the transceiver further comprises a third mixer (5) for providing said intermediate frequency local oscillator signal from a modulated output signal of the high frequency oscillator.