Swedish Krona Falls To Near 6-month Low Against Euro
10 August 2015 - 11:32AM
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The Swedish krona weakened against the euro in the early
European session on Monday, after Sweden's industrial production
dropped at a steeper pace in June.
Data from Statistics Sweden showed that Sweden's industrial
production dropped a seasonally adjusted 1.0 percent
month-over-month in June, following the previous month's 0.3
percent decline. In April, output had risen 2.2 percent.
However, industrial production rose for the fourth straight
month in June by 1.2 percent on an annual basis, following a
revised 3.4 percent growth in the previous month.
Against the euro, the krona fell to nearly a 6-month low of
9.6283 from an early high of 9.5924. At Friday's close, the krona
was trading at 9.6175 against the euro.
If the krona extends its downtrend, it is likely to find support
around the 9.70 area.
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