Swedish Krona Rises To More Than 5-month High Against U.S. Dollar
August 20 2024 - 2:06AM
RTTF2
The Swedish krona strengthened against the U.S. dollar in the
European session on Tuesday.
In economic news, Sweden's central bank lowered its key policy
rate by a quarter-point as inflation continued to ease amid
weakening growth prospects and signaled as much as three more
interest reductions this year.
The Executive Board of Riksbank decided to cut the policy rate
by 25 basis points to 3.50 percent. The outcome of the meeting
matched expectations.
Against the U.S. dollar, the krona rose to more than a 5-month
high of 10.2674 from an early low of 10.3321. At yesterday's close,
the krona was trading at 10.2973 against the greenback.
If the krona extends its uptrend, it is likely to find
resistance around the 10.16 region.
US Dollar vs SEK (FX:USDSEK)
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US Dollar vs SEK (FX:USDSEK)
Forex Chart
From Jan 2024 to Jan 2025
