After the IMF statements regarding a slower than expected global economic recovery, the Swedish krona posted an intense decline versus the U.S. dollar, as traders opted for safety in a rather turbulent trading session.

Several worse than expected U.S. economic reports were published today, declining attractiveness for currencies like the Swedish krona, as the country is relying on a faster economic recovery to save its banking system, which is highly attached to countries facing strong recession, like the Baltic nations of Lithuania and Latvia, forcing the krona down versus the euro and the greenback.

EUR/SEK closed at 10.23 today from a previous close of 10.18 yesterday.

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