The Swedish krona strengthened today, rising to the highest level in two and a half years versus the US dollar, after the report showed that Sweden’s economic growth beat forecasts.
The Swedish gross domestic product advanced 1.2 percent in the fourth quarter of 2010. The growth was slower than the 2.1 percent growth in the previous quarter, though bigger than the median forecast of 1 percent. Central bank Governor Stefan Ingves suggested yesterday that the bank may raise the interest rates.
USD/SEK went down today from 6.3227 to 6.2922 as of 14:59 GMT. The currency pair dropped from 6.4357 to 6.3226 yesterday.
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