The Swedish krona rose today after falling for four days in a row. Decent domestic macroeconomic data helped the currency.
Sweden’s retail sales rose 0.5% in March from the previous month on a seasonally adjusted basis, accelerating its rate of growth from February’s 0.3% and beating market expectations of 0.2%. Year-on-year though, the rate of growth slowed to 1.9% in March from 3.2% in February, missing the consensus forecast of 2.8%. The Producer Price Index climbed 1.2% in March on a monthly basis, rising much faster compared to February’s 0.2% pace of increase.
USD/SEK dropped from 9.5329 to 9.4833 as of 15:22 GMT today. EUR/SEK declined from 10.6123 to 10.5912, touching the low of 10.5649.
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