FxWirePro: USD/SEK hits 1-month low, dip till 8.6060 likely
The Swedish Krona consolidated within ranges after rising to a 1-month high earlier in the session on board-based dollar weakness. The dollar fell to multi-week lows as investors expect Democrat Joe Biden to beat Presi…
The Swedish Krona consolidated within ranges after rising to a 1-month high earlier in the session on board-based dollar weakness.
The dollar fell to multi-week lows as investors expect Democrat Joe Biden to beat President Donald Trump and the Republicans to retain control of the Senate, allowing them to block Democrat policy such as corporate tax hikes and debt-funded spending on infrastructure.
The greenback against a basket of currencies traded 0.05 percent down at 92.50, having touched a low of 92.45 earlier, its lowest since September 2.
USD/SEK trades flat at 8.6854, having hit a low of 8.6317 earlier, its lowest since September 1.
Immediate resistance is located at 8.7641, any close above could take it above 8.7898 (7-EMA).
On the lower side, support is seen at 8.6060, break below could take it till 8.5950.
