Krona Gains on Growth of Swedish Industrial Production
The Swedish krona appreciated today after the reports showed slower inflation and faster industrial production growth. The positive domestic fundamentals added to the current positive view on riskier currencies by Forex market participants.
Swedish inflation grew 0.7 percent in July, following the 1.0 percent growth in June. Industrial production rose 0.4 percent in June from May on a seasonally adjusted basis. The mood on markets was positive, especially after some macroeconomic report from Europe came out better than expected, and that boosted demand for currencies with higher yield.
USD/SEK was down from 6.7113 to 6.6834 as of 16:51 GMT today, while the daily low was at 6.6406.
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Earlier News About the Swedish Krona:
- Swedish Krona Rides Higher on Good GDP Growth (2012-07-30)
- Swedish Krona Rises with Improving Consumer Confidence (2012-07-26)
- Krona Gains as Riksbank Keeps Repo at 1.5 Percent (2012-07-04)
- Swedish Krona Rises Even After CPI Slows (2012-06-12)
- Swedish Krona Advances vs. Euro on Rising GDP (2012-05-30)