The Swedish Krona declined against the U.S. dollar in early European deals on Friday, after data showed that Sweden's economic confidence weakened unexpectedly in February.

Survey data from the National Institute of Economic Research showed that Sweden's economic tendency indicator fell to 104.8 in February from 105.6 in January. Economists had forecast the index to rise to 106.

The Swedish Krona dropped to an 8-day low of 8.4496 against the greenback, compared to yesterday's closing value of 8.4216. The next possible downside target for the krona is seen around the 9.0 level.

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