Swedish Krona Falls To 2-week Low Against Euro
June 26 2015 - 5:21AM
RTTF2
The Swedish krona weakened against the euro in the early
European session on Friday, after data showed that the nation's
retail sales growth eased for the second straight month in May.
Data from Statistics Sweden showed that the retail sales volume
climbed a working-day-adjusted 3.9 percent year-over-year in May,
slightly slower than April's 4.0 percent gain, which was revised up
from 3.0 percent rise. Economists had expected the growth to
accelerate to 4.2 percent. In March, sales had risen 4.7
percent.
On a monthly basis, retail sales edged down 0.1 percent in May,
in contrast to economists' expectations for a 0.3 percent hike. In
April, sales showed no variations, revised from a 0.2 percent
fall.
Against the euro, the krona fell to a 2-week low of 9.2545 from
an early high of 9.2327. At yesterday's close, the krona was
trading at 9.2356 against the euro.
If the krona extends its downtrend, it is likely to find support
around the 9.40 area.
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