The Swedish krona rose today to the highest level in two years versus the US dollar on the speculation that the central bank would perform its monetary tightening plans and as the economic data was favorable.
The Riksbank said it would increase the benchmark repo rate more than 2 percentage points over the next two years to about 3 percent. The reports showed that the manufacturing expanded for the 16th straight month, while the consumer and business confidence was at its highest level in the decade.
USD/SEK wend down from 6.7360 to 6.7095 as of 10:24 GMT today, following the drop to 6.6746, the lowest level since September 2008.
If you want to comment on the Swedish krona’s recent action or have any questions regarding this currency, please, feel free to reply below.
Earlier News About the Swedish Krona:
» Swedish Krona Down on Eurozone Optimism (2010-03-03)
» Krona Hits Record High on Swedish Interest Rate Outlook (2010-02-12)
» Swedish Krona Gains on Greece's Budget Deficit (2010-01-16)
» Swedish Krona Down on U.S. Optimism (2009-12-16)
» Swedish Krona Posts Biggest Fall in 2 Weeks (2009-11-18)
This entry was posted on Friday, October 1st, 2010 at 12:24 pm and is filed under Swedish Krona. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
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