The Swedish krona strengthened against the euro ahead of European deals on Monday, after data showed that the nation's manufacturing growth accelerated in April to reach its highest level in one year.

Data from the Swedbank and the Swedish National Association of Purchasing & Logistics showed that the Purchasing Managers' Index, or PMI, rose to 55.7 in April from 54.1 in the previous month. Economists had expected the index to fall to 53.0. Against the euro, the krona rose o 9.3704 from an early low of 9.4117. At Friday's close, the krona was trading at 9.3957 against the euro.

If the krona extends its uptrend, it is likely to find resistance around the 9.12 area.

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