FxWirePro: Swedish Krona plunges to 1-week trough on soft capacity utilization figures
Friday, August 21, 2020 10:36 AM UTC
- The Swedish Krona declined to an over 1-week low following the release of downbeat capacity utilization data.
- Sweden's industries operated at 82.8 percent of their production capacity in Q2 2020, the lowest since the fourth quarter of 2009, and compared to a downwardly revised 89.1 percent in the prior period.
- USD/SEK trades 0.9 percent higher at 8.7860, having hit a high of 8.7891 earlier, its highest since August 3.
- Immediate resistance is located at 8.8068, any close above could take it near 8.8461.
- On the lower side, support is seen at 8.6639, break below could take it till 8.6471.