FxWirePro: USD/SEK hits 1-week peak, struggles to break above 8.7000
The Swedish Krona declined, extending losses for the third straight session as investors continued to digest soft economic data released yesterday. Sweden's annual inflation rate edged down to 0.3 percent in October, the…
The Swedish Krona declined, extending losses for the third straight session as investors continued to digest soft economic data released yesterday.
Sweden's annual inflation rate edged down to 0.3 percent in October, the lowest since May and below market expectations of 0.4 percent. Meanwhile, core consumer prices decreased to 220.38 points in October from 220.47 points in September.
USD/SEK trades 0.1 percent higher at 8.6580, having hit a low of 8.5253 on Thursday, its lowest since April 2018.
Immediate resistance is located at 8.6977, any close above could take it above 8.7204 (10-DMA).
On the lower side, support is seen at 8.5532, break below could take it till 8.5253.
