Swedish Krona Falls To 5-day Low Against Euro After Sweden CPI Data
12 May 2015 - 6:54PM
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The Swedish krona weakened against the euro in the early
European session on Tuesday, after data showed that the nation's
consumer prices dropped unexpectedly in April.
Data from Statistics Sweden showed that Sweden's consumer price
index edged down 0.2 percent year-over-year in April, in contrast
to a 0.2 percent increase in March. Economists had expected a 0.3
percent climb for the month. It was the first decrease in three
months.
On a monthly basis, consumer prices remained unchanged in April,
following a 0.1 percent slight rise in the prior month. It was
expected to increase by 0.4 percent.
Against the euro, the krona fell to a 5-day low of 9.3258 from
an early high of 9.2221. At yesterday's close, the krona was
trading at 9.2469 against the euro.
If the krona extends its downtrend, it is likely to find support
around the 9.58 area.
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