FxWirePro: USD/SEK scales to 2-1/2 month peak as dollar rallies on economic concerns
Thursday, September 24, 2020 12:51 PM UTC
- The Swedish Krona plunged to a 2-1/2 month low as the greenback surged across the board.
- The dollar index advanced as investors sought its safe-haven appeal on growing concerns over the resilience of an economic recovery in the United States and Europe.
- USD/SEK trades 1.1 percent higher at 9.1040, having hit a high of 9.1043 earlier in the session, its highest since July 16.
- Markets now await Swedish PPI and household lending growth figures for signs of recovey in the econony.
- Immediate resistance is located at 9.1377, any close above could take it near 9.1591.
- On the lower side, support is seen at 8.9571, break below could take it till 8.9240.