FxWirePro: Swedish Krona rallies to 6-1/2 week peak as Riksbank keeps rates unchanged
The Swedish Krona advanced to a 6-1/2 week peak after its central bank held interest rates steady and maintained stimulus measures to support an economy battered by the coronavirus pandemic. The Riksbank left its benchma…
The Swedish Krona advanced to a 6-1/2 week peak after its central bank held interest rates steady and maintained stimulus measures to support an economy battered by the coronavirus pandemic.
The Riksbank left its benchmark rate at 0 percent, as expected and said it will continue purchases of government and mortgage bonds up to the end of September of 2020.
Separate data showed Sweden's retail sales rose 0.6 percent year-on-year in March, easing from an upwardly revised 3.7 percent gain in the previous month.
EUR/SEK trades 0.8 percent down at 10.7527, having hit a low of 10.7505 earlier, its lowest since March 13.
The pair declined below major support 55-EMA at 10.8186 and is likely to test 10.7347.
Immediate resistance is located at 10.8745, any close above could take it near 10.8867 (21-EMA).
On the lower side, support is seen at 10.7347, break below could take it till 10.6917.
