The Swedish krona strengthened against the euro in the early European session on Thursday, after data showed that the nation's consumer prices rose unexpectedly in May.

Data from Statistics Sweden showed that Sweden's consumer price index edged up 0.1 percent year-over-year in May, in contrast to April's 0.2 percent fall. Economists had expected a 0.1 percent drop for the month. On a monthly basis, consumer prices rose 0.3 percent in May, exceeding economists' expectations for a 0.2 percent climb after staying flat in the previous month.

Against the euro, the krona rose to nearly a 2-week high of 9.2717 from an early low of 9.3565. The pair was quoted at 9.3545 at yesterday's close.

If the krona extends its uptrend, it is likely to find resistance around the 9.16 area.

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