Swedish Krona Rises To 5-day High Against U.S. Dollar
May 06 2015 - 5:10AM
RTTF2
The Swedish krona strengthened against the U.S. dollar in the
European session on Wednesday.
In economic news, data from Swedbank showed that Sweden's
service sector growth eased notably in April, after accelerating in
the previous month. The purchasing managers' index, or PMI, fell by
3.3 points to 53.9 in April from 57.2 in the previous month.
However, any reading above 50 indicates expansion in the
sector.
Against the greenback, the krona rose to a 5-day high of 8.2784
from an early low of 8.3595. At yesterday's close, the krona was
trading at 8.3483 against the greenback.
If the krona extends its uptrend, it is likely to find
resistance around the 8.19 area.
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