Swedish Krona Rises Near 4-month High Against Euro
04 März 2015 - 9:46AM
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The Swedish krona strengthened against the euro in the early
European session on Wednesday.
In economic news, data from Swedbank showed that Sweden's
service sector growth slowed at a faster than expected pace in
February. The purchasing managers' index for the service sector, or
PMI, fell to 56.7 in February from January's six-month high of
57.9.
Against the euro, the krona rose to 9.2071 for the first time
since November 11, 2014 from an early low of 9.2616. At yesterday's
close, the krona was trading at 9.2481 against the euro.
If the krona extends its uptrend, it is likely to find
resistance around the 9.05 area.
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