Swedish Krona Rises To 2-day High Of Against Euro
27 November 2015 - 5:45AM
RTTF2
The Swedish krona strengthened against the euro in the early
European session on Friday.
In other economic news, data from Statistics Sweden showed that
the nation's retail sales climbed a working-day-adjusted 5.0
percent year-over-year in October, slower than the 5.7 percent rise
in September, which was revised up from a 3.7 percent gain reported
earlier. Economists had expected a 3.8 percent increase for the
month.
On a monthly basis, retail sales inched up 0.3 percent in
October, below economists' expectations for a 0.6 percent hike. In
September, prices had risen 1.2 percent. It was the second
successive monthly increase.
Against the euro, the krona rose to a 2-day high of 9.2459 from
an early low of 9.2769. At yesterday's close, the krona was trading
at 9.2622 against the euro.
If the krona extends its uptrend, it is likely to find
resistance around the 9.20 area.
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