Swedish Krona Down on U.S. Optimism
The Swedish krona has been losing terrain versus the dollar as the U.S. economy signals of recovery has been leaving space for speculations regarding interest rate hikes, declining attractiveness for the Swedish currency.
The krona has been suffering from another blow this time coming from North America as the appeal for less tradeable currencies declined, affecting the Swedish currency which already faced problems this semester as Nordic loans in the Baltic states affected negatively
USD/SEK closed today at 7.2005 from an opening rate of 7.1046.
If you have any questions, comments or opinions regarding the Swedish Krona, feel free to post them using the commentary form below.
Tags
Categories
Earlier News About the Swedish Krona:
- Swedish Krona Posts Biggest Fall in 2 Weeks (2009-11-18)
- Sweden's Krona Down Further on Economic Outlook (2009-10-27)
- Swedish Krona on Interest Rate Forecasts (2009-10-23)
- Swedish Krona Declines on Extended Loans (2009-09-03)
- Swedish Krona Down on Central Bank Surprise (2009-07-02)
2 Comments
Is there a new light for the swedish krone to become the major and attractive currency when compared other european currencies in the new year?What is your opinion for this currency in the near future?Sincerely yours..
From the technical point of view the USD/SEK rate should floating inside 6.5500-8.0200 range during the next year (first up then down). But Sweden has the lowest interest rate in Europe (0.25%), so if the central bank decides to start rising the interest rates that can significantly boos the krona, helping it to get to near 6.0000 against the USD and also quite far up against the euro.