Krona Falls To Multi-year Low Against Greenback As Riskbank Cut Rates
February 12 2015 - 4:09AM
RTTF2
The Swedish krona weakened against the U.S. dollar in the early
European session on Thursday after Sweden's central bank cut its
key interest rate unexpectedly to negative zone.
The Executive Board of Riksbank decided to cut the repo rate by
0.10 percentage point to -0.10 percent. The bank will also buy
government bonds with maturities of 1-5 years for the sum of SEK 10
billion.
Against the U.S. dollar, the krona fell to 8.5541 for the first
time since April 2009 from an early high of 8.3474. At yesterday's
close, the krona was trading at 8.3664 against the greenback.
If the krona extends its downtrend, it is likely to find support
around the 8.85 area
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