The Swedish krona fell today against the euro, touching the lowest level in a week, after the consumer and manufacturing gauges declined this month, sparking talks about an interest rate cut. The currency advanced versus the US dollar.
The Consumer Confidence Indicator fell from 5.2 to 3.6 in May. The confidence indicator for the manufacturing industry declined from -9 in April to -15 this month. The Riksbank will hold its policy meeting on July 3 and today’s data suggests that policy makers may cut interest rates during the gathering.
USD/SEK dropped from 6.6460 6.6444 as of 12:06 GMT today. Meanwhile, EUR/SEK advanced from 8.5967 to 8.6017.
If you have any questions, comments or opinions regarding the Swedish Krona,
feel free to post them using the commentary form below.
