Swedish Krona Rises To Near 4-week High Against Euro After Sweden GDP Data
February 28 2016 - 11:29PM
RTTF2
The Swedish krona strengthened against the euro in the early
European session on Monday, after data showed that the nation's
economic growth expanded more than expected in the fourth quarter
of 2015.
Data from Statistics Sweden showed that the Swedish economy
expanded 1.3 percent on quarterly basis in the fourth quarter of
2015. The economists had estimated the economy to grew at a pace of
0.7 during the fourth quarter.
On yearly basis, the economy expanded 4.5 percent, compared to
forecasts for 3.5 percent growth.
Against the euro, the krona rose to nearly a 4-week high 9.3096
from an early low of 9.3685. At Friday's close, the krona was
trading at 9.3497 against the euro.
If the krona extends its uptrend, it is likely to find
resistance around the 9.20 area.
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