FxWirePro: USD/SEK hits 2-year trough, struggles to break below 8.7000
The Swedish Krona retreated from a 2-year peak as the dollar rallied across the board. The dollar index rebounded as the Fed Chair Jerome Powell didn’t shift his position to a more dovish one and called for more fiscal s…
The Swedish Krona retreated from a 2-year peak as the dollar rallied across the board.
The dollar index rebounded as the Fed Chair Jerome Powell didn’t shift his position to a more dovish one and called for more fiscal support to boost the economy.
USD/SEK trades 0.7 percent up at 8.7711, having hit a low of 8.7077 earlier, its lowest since July 2018.
Immediate resistance is located at 8.8097 (7-EMA), any close above could take it near 8.8461.
On the lower side, support is seen at 8.6808, break below could take it till 8.6539.
