Swedish Krona Falls Against Euro
03:09, 1st July 2015
(RTTNews) - The Swedish krona weakened against the euro ahead of European session on Wednesday, after data showed that the nation's manufacturing sector expanded at the slowest pace in seven months in June.
Data from the Swedbank and the Swedish National Association of Purchasing & Logistics showed that Sweden's Purchasing Managers' Index fell unexpectedly to 52.8 in June from 54.8 in May. This was the lowest score since November, when the reading was 52.7. It was expected to rise to 55.2.
Against the euro, the krona fell to 9.2492 from an early high of 9.2227. At yesterday's close, the krona was trading at 9.2312 against the euro.
If the krona extends its downtrend, it is likely to find support around the 9.34 area.
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