Swedish Krona Falls As Sweden's Trade Deficit Widens
28 September 2015 - 06:31AM
RTTF2
The Swedish krona weakened against the euro in the early
European session on Monday after data showed that the nation's
trade deficit widened notably in August as exports decreased amid
rise in imports.
Data from Statistics Sweden showed that the trade gap increased
to SEK 3.6 billion from SEK 0.3 billion in July. The trade balance
showed deficit for the second straight month. Exports dropped to
SEK 87.8 billion from SEK 88.7 billion in July, while imports rose
to SEK 91.4 billion from SEK 89 billion. Against the euro, the
krona fell to nearly a 4-week low of 9.4788 from an early high of
9.3938.
If the krona extends its downtrend, it is likely to find support
around the 9.55 area.
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