Swedish Krona Rises Against Euro
02 January 2015 - 9:04PM
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The Swedish krona strengthened against the euro ahead of
European deals on Friday after data showed that Sweden's
manufacturing sector grew at the fastest pace in eight months in
December.
Data from the Swedbank and the Swedish National Association of
Purchasing and Logistics (SILF)showed that the purchasing managers'
index rose to 55.4 in December from 52.7 in the previous month. Any
score above 50 indicates expansion in the sector.
Economists had forecast a reading of 52.6 for the month. The
latest score was the highest since April, when it was 55.5.
Against the euro, the krona rose to session's high of 9.3981
from an early low of 9.4762.
If the krona extends its uptrend, it is likely to find
resistance around the 9.30 area.
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