Swedish Krona Rises To 4-day High Against Euro After Sweden CPI
13 January 2015 - 8:03PM
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The Swedish krona strengthened against the euro in the early
European session on Tuesday, after nation's consumer prices rose
more than expected for December.
Data from Statistics Sweden showed that Sweden's consumer prices
rose 0.2 percent in December, defying expectations for a 0.1
percent drop. In November, prices had fallen 0.1 percent.
Meanwhile, consumer prices declined 0.3 percent year-on-year in
December, slower than the 0.5 percent fall expected by economists.
This follows a 0.2 percent fall in November.
Against the euro, the krona rose to a 4-day high of 9.4566 from
an early low of 9.5747. At yesterday's close, the krona was trading
at 1.5411 against the euro.
If the krona extends its uptrend, it is likely to find
resistance around the 9.34 area.
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