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.
If you have any questions, comments or opinions regarding the Swedish Krona, feel free to post them using the commentary form below.
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Earlier News About the Swedish Krona:
- 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)
- Sweden's Krona Down Further on Economic Outlook (2009-10-27)
- Swedish Krona on Interest Rate Forecasts (2009-10-23)
2 Comments
It is obvious that in the last 2 months Swedish Krona was more attractive and valuable currency when compared other neighbourhood country’s currency i.e » Norwegian Krone .What are the specific reasons for that?What is your opinion about Norwegian Krone in the future ? Can you guess USD/Norwegian Krone rate for the near future and Do you recommend me to get this Norwegian Krone currency instead of Swedish Krona ?
Sincerely yours…
NOK is somewhat tied to oil prices and SEK isn’t. If you are bullish on the commodities, go with NOK, otherwise go long on SEK.