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Add as a preferred source on Google FxWirePro: USD/SEK hits 2-1/2 month low, outlook remains bearish The Swedish Krona rallied to a 2-1/2 -month peak as Sweden is likely to benefit from exports and increased foreign trade in the coming weeks. However, growing doubts over Sweden’s ability to handle the economic crisis ca…
By FxWirePro Team May 21, 2020, 12:41 PM UTC
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The Swedish Krona rallied to a 2-1/2 -month peak as Sweden is likely to benefit from exports and increased foreign trade in the coming weeks.
However, growing doubts over Sweden’s ability to handle the economic crisis caused by the coronavirus pandemic limited upside in the Swedish currency.
USD/SEK trades 0.2 percent down at 9.5650, having hit a low of 9.5556 earlier, its lowest since March 12.
Immediate resistance is located at 9.6324, any close above could take it near 9.6556.
On the lower side, support is seen at 9.5404, break below could take it till 9.5137.
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