Swedish Krona Firm Despite Falling Producer Prices

The Swedish krona rose today even as producer prices fell last month, supporting the view that lower interest rates are necessary.
Statistic Sweden reported that the Producer Price Index fell 0.1 percent in May from April. The drop was much slower than the April’s 1.1 percent. It is interesting to see that the currency is rising despite the poor report, while earlier it was falling even as economic data was good.
USD/SEK fell from 6.7640 as of 6.7344 as of 16:00 GMT today.

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