Swedish Krona Weakens To 2-day Low Against Euro

00:27, 25th August 2016

(RTTNews) - The Swedish Krona drifted lower against the euro in European deals on Thursday, as Sweden's jobless rate decreased less-than-expected in July and producer prices fell.

Figures from Statistics Sweden showed that Sweden's unemployment rate decreased less-than-expected in July.

The jobless rate fell to 6.3 percent in July, slightly higher than the 5.9 percent drop expected by economists. In July, the jobless rate was 7.6 percent.

Separate data showed that producer prices dropped 0.3 percent on month in July, reversing a 1.5 percent gain in June.

The Swedish Krona dropped to a 2-day low of 9.4826 against the greenback, compared to Wednesday's closing value of 9.4494. The next possible support for the Krona may be found around the 9.6 mark.