Swedish Krona Down On Eurozone Optimism

The Swedish krona fell for another day this Wednesday as optimism in the Eurozone and negative releases in the Nordic country declined attractiveness regionally for assets in Sweden.

The krona is very likely to end this week posting a drop versus important currencies in Europe after a report in the country showed that Sweden is again having to deal with a recession, declining the odds that interest rates will be hiked in the country anytime soon. The krona had been an option in Europe as the Greek crisis affected market sentiment in the Eurozone, but this week, as Greece proposed new measures to tighten its fiscal deficit, the euro recovered versus the krona.

EUR/SEK traded at 9.7878 as of 14:39 GMT from 9.7700 when markets opened today.

If you want to comment on the Swedish krona’s recent action or have any questions regarding this currency, please, feel free to reply below.