Swedish Krona Advances with Consumer Sentiment

The Swedish krone advanced today as confidence of Swedish consumers improved more than were expected by market analysts and as fears of the economic crisis were almost gone.
The National Institute of Economic Research reported today that consumer confidence rose from -3.2 in February to zero in March. The actual reading was better than the forecast figure of -2. Italian Prime Minister Mario Monti, who previously was warning about the threat of credit crisis spreading over Europe again, said the debt problems are “almost over”.
USD/SEK was down from 6.6816 to 6.6482 as of 10:59 GMT today, while the intraday low was 6.6235 — the lowest since March 2.

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