Swedish Krona Falls To 6-1/2-year Low Versus Euro
11 October 2016 - 7:53PM
RTTF2
The Swedish Krona drifted lower against the euro in European
deals on Tuesday, after data showed that Sweden's consumer price
inflation eased unexpectedly in September.
Figures from Statistics Sweden showed that the consumer price
index rose 0.9 percent year-over-year in September, slower than
August's 1.1 percent climb. That was below the 1.2 percent rise
expected by economists.
Month-on-month, consumer prices edged up 0.2 percent from
August, when it dropped by 0.1 percent. It was forecast to increase
by 0.5 percent.
The Swedish Krona weakened to 9.7350 against the euro, a level
not seen since May 2010. This may be compared to a 4-day high of
9.6328 set at 5:45 pm ET. Continuation of the Krona's downtrend may
see it finding support around the 9.9 mark.
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