FxWirePro: USD/SEK rebounds from 1-1/2 month low, finds support at 8.7000
Thursday, October 22, 2020 12:46 PM UTC
- The Swedish Krona declined after rising to an over 1-1/2 month peak in the prior session as the dollar bounced back across the board.
- The greenback rose after House Speaker Nancy Pelosi said before starting talks with Treasury Secretary Steven Mnuchin that there was still a chance for a deal despite resistance from Senate Republicans, though she acknowledged it might not pass until after the election.
- The greenback against a basket of currencies traded 0.3 percent up at 92.90, having touched a low of 92.47 on Wednesday, its lowest since September 2.
- Investors now turn their attention to the final U.S. presidential debate between Trump and Democrat rival Joe Biden, and weekly U.S. jobless claims due later in the day.
- USD/SEK trades 0.7 percent higher at 8.7769, having hit a low of 8.7012 on Wednesday, its lowest since September 10.
- Immediate resistance is located at 8.8295, any close above could take it above 8.8408.
- On the lower side, support is seen at 8.6843, break below could take it till 8.6631.