The Swedish krona rose today despite speculations about possibility on quantitative easing from the nation’s central bank. The positive market sentiment was likely responsible for gains of the currency.
The Riksbank surprised the Forex market in July, cutting its main interest rate by half a point to 0.25 percent. Data released since than showed that consumer inflation decelerated, falling from 0.2 percent to 0.04 percent. It suggests that the central bank may implement another round of stimulating measures. The krona ignored this outlook, most likely because the traders’ mood was lifted by rumors about cease-fire between Russia and Ukraine.
USD/SEK fell from 7.0169 to 7.0169 as of 17:35 GMT today.
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