The Swedish krona rose for the second day versus the US dollar and reached the highest level in 10 years against the euro on the speculation that the strong global economic growth will increase demand for Sweden’s assets.
The macroeconomic data from various countries continues to show evidences of the global growth. Today’s reports about the German industrial output expected to show a recovery, while yesterday’s report about the US consumer borrowing showed the growth, which was almost three times bigger than was forecast. The rebound of the prices for the Brute crude oil also bolstered the Swedish currency.
USD/SEK declined from 6.4610 to 6.4253 as of 11:42 GMT today. EUR/SEK traded near its opening level of 8.7715 as of 9:09 after touching 8.7642, the lowest level since December 2000.
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