The Swedish krona dropped today after the release of an extremely disappointing retail sales report.
Swedish retail sales rose 2.7% in August, year-on-year, down from a negatively revised 3.9% increase registered in the previous month and missing the consensus forecast of a 3% gain. It was the slowest rate of growth since February. Month-on-month, the indicator showed no change on a seasonally adjusted basis following a negatively revised increase of 0.3% in July and failing to meet market expectations of a 0.2% increase.
USD/SEK gained from 9.7657 to 9.7909 as of 16:52 GMT today. EUR/SEK jumped from 10.6612 to 10.7162.
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