FxWirePro: USD/SEK hovers towards near 4-month trough, dip till 9.1127 likely
The Swedish Krona rallied, hovering towards a near 4-month peak recorded in the previous session following the release of upbeat inflation figures. Sweden's consumer price inflation rate rose to 0.7 percent in June, the …
The Swedish Krona rallied, hovering towards a near 4-month peak recorded in the previous session following the release of upbeat inflation figures.
Sweden's consumer price inflation rate rose to 0.7 percent in June, the highest in four months and compared with market expectations of 0.5 percent, while core consumer prices increased 0.70 percent in June over the same month in the previous year.
Moreover, weakness in the greenback further boosted the bid tone around the Swedish currency.
The greenback against a basket of currencies traded 0.2 percent lower at 96.38, having touched a low of 96.24 on Thursday, its lowest since June 11.
USD/SEK trades 0.7 percent down at 9.1300, having hit a low of 9.1277 the day before, its lowest since March 21.
Immediate resistance is located at 9.2251 (7-EMA), any close above could take it near 9.2423.
On the lower side, support is seen at 9.1127, break below could take it till 9.1006.
