Swedish Krona Rises To More Than 2-month High Against Euro
May 26 2015 - 4:30AM
RTTF2
The Swedish krona strengthened against the euro in the early
European session on Tuesday, after data showed that the nation's
producer price inflation accelerated to its highest level in eight
months in April.
Data from Statistics Sweden showed that Sweden's producer price
index rose 2.4 percent year-over-year in April, faster than
previous month's 2.3 percent climb. It was the fourth consecutive
monthly increase.
The latest rate of inflation was the highest since August last
year, when prices had risen 2.7 percent.
Against the greenback, the krona rose to more than a 2-month
high of 9.2051 from an early low of 9.2433. At yesterday's close,
the krona was trading at 9.2375 against the greenback.
If the krona extends its uptrend, it is likely to find
resistance around the 9.10 area.
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