Swedish Krona Rises Even After CPI Slows

The Swedish krona was rising today even after a report that showed nation’s inflation slowing. The crisis in the eurozone has hurt Sweden’s economy, but economists say that the economic situation in the country itself is beginning to stabilize.
Statistics Sweden reported today that the Swedish inflation rate fell to 1.0 percent in May from 1.3 percent in April. That was in line in analysts’ expectations. The currency has dropped sharply after the report, but quickly regained its strength. The krona was rising almost every day of this month, though it depreciated strongly yesterday.
USD/SEK fell from 7.1235 to 7.0698 as of 10:40 GMT today.

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