The Swedish krona strengthened today after the government raised its growth forecast for the nation’s economy, adding to reasons for the central bank to raise its interest rates.
The government estimated that Sweden’s economy will expand 3.8 percent in 2012 and 3.6 percent in 2013. The growth forecast for this year was revised to 4.6 percent from the last month’s estimates of 3.7 percent growth. Economists expected increase of the nation’s trade surplus and decrease of the unemployment rate.
USD/SEK dropped from 6.2964 to 6.2436 as of 15:35 GMT today after reaching the intraday low of 6.2163.
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