Swedish Krona Rides Higher on Good GDP Growth

  July 30th, 2012 at 16:55

Stacks of Swedish coinsThe Swedish krona climbed today as Sweden’s economy demonstrated solid growth in the past quarter, adding to the appeal of the currency.

Swedish gross domestic product (seasonally adjusted) expanded by 1.4 percent in the second quarter of 2012 from the first quarter, when it grew 0.9 percent. The annual increase was at 2.3 percent. The currency also benefited from the general optimism on the Forex market that carried over from the previous week, though the positive sentiment weakened somewhat.

USD/SEK fell from 6.8799 to 6.7876 as of 16:55 GMT today, while earlier it rose to 6.8953.

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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