Swedish Krona Rises To Near 2-week High Against Euro After Sweden CPI Data
June 11 2015 - 4:29AM
RTTF2
The Swedish krona strengthened against the euro in the early
European session on Thursday, after data showed that the nation's
consumer prices rose unexpectedly in May.
Data from Statistics Sweden showed that Sweden's consumer price
index edged up 0.1 percent year-over-year in May, in contrast to
April's 0.2 percent fall. Economists had expected a 0.1 percent
drop for the month. On a monthly basis, consumer prices rose 0.3
percent in May, exceeding economists' expectations for a 0.2
percent climb after staying flat in the previous month.
Against the euro, the krona rose to nearly a 2-week high of
9.2717 from an early low of 9.3565. The pair was quoted at 9.3545
at yesterday's close.
If the krona extends its uptrend, it is likely to find
resistance around the 9.16 area.
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