Swedish Krona Strengthens To 5-day High As CPI Rises
February 17 2015 - 4:22AM
RTTF2
The Swedish krona strengthened against the euro in the early
European session on Tuesday, after data showed that the nation's
core CPI rose more than estimated in January.
Data from Statistics Sweden showed that Sweden's core inflation,
measured on the CPIF, rose to 0.6 percent from 0.5 percent in
December. Economists had expected the rate to hold steady.
Against the euro, the krona rose to a 5-day high of 9.5022 from
an early low of 9.5617. At yesterday's close, the krona was trading
at 9.5357 against the greenback.
If the krona extends its uptrend, it is likely to find
resistance around the 9.39 area.
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