Swedish Krona Rises To More Than 4-week High Against Euro
27 Februar 2015 - 10:59AM
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The Swedish krona strengthened against the euro in the early
European session on Friday, after nation's economic growth rose
more than expected in the fourth quarter of 2014.
Data from Statistics Sweden showed that GDP expanded seasonally
adjusted 1.1 percent in the fourth quarter of 2014, faster than the
0.3 percent rise seen in the third quarter of 2014. It was faster
than a 0.5 percent expansion forecast by economists. GDP expanded
at an annual pace of 2.7 percent, compared to 2.1 percent the
fourth quarter of 2013. Economists expected GDP to grow 1.5 percent
on year.
Against the euro, the Swedish krona rose to more than a 4-week
high of 9.2943 from an early low of 9.4211. At yesterday's close,
the krona was trading at 9.3752 against the euro.
If the krona extends its uptrend, it is likely to find
resistance around the 9.15 area.
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