Krona Hits Record High on Swedish Interest Rate Outlook
The Swedish krona traded at the highest level in more than a year versus the euro as the nation’s central bank signaled that interest rates may be hiked sooner than previously expected by analysts, bringing regional investors to purchase assets in the region.
The Swedish currency profited from a favorable scenario in both international and national scenarios as the Riksbank said its intentions are to raise interest rates at some point during summer or early autumn, and the European Union affirmed that it will help Greece to end its fiscal crisis, even if government officials didn’t give a concrete plan on how the help will be provide.
EUR/SEK closed this Thursday at 9.8900 from a previous close at 9.9013.
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