FxWirePro: USD/SEK rebounds from 1-week low, finds support at 8.6500
Friday, August 14, 2020 12:43 PM UTC
- The Swedish Krona eased, retreating from a 1-week high recorded in the prior session as the greenback rose against a basket of currencies.
- The dollar index gained following a spike in U.S. bond yields and release of upbeat economic data.
- The number of Americans seeking unemployment benefits declined below one million for the first time since the start of the COVID-19 pandemic.
- Investors now await U.S. retail sales and Michigan Consumer Sentiment Index for signs of recovery.
- USD/SEK trades 0.3 percent higher at 8.7066, having hit a low of 8.6516 the prior sesson, its lowest since August 6.
- Immediate resistance is located at 8.7525, any close above could take it near 8.7740.
- On the lower side, support is seen at 8.6471, break below could take it till 8.6236.