FxWirePro: USD/SEK near 3-month trough, outlook remains bearish
The Swedish Krona rallied to a near 3-month peak as the greenback plunged against a basket of currencies. The dollar index fell to its lowest level since March 13 amid growing concern over U.S.-China tensions and mass pr…
The Swedish Krona rallied to a near 3-month peak as the greenback plunged against a basket of currencies.
The dollar index fell to its lowest level since March 13 amid growing concern over U.S.-China tensions and mass protests across the United States over the death of a black man in police custody.
Moreover, investors continued to digest better-than-expected Sweden's Swedbank Manufacturing PMI, which rose to 39.2 in May from a downwardly revised 36.4 in the previous month.
USD/SEK trades 0.05 percent down at 9.3550, having hit a low of 9.3244 earlier, its lowest since March 9.
Immediate resistance is located at 9.3981, any close above could take it near 9.4437.
On the lower side, support is seen at 9.3014, break below could take it till 9.2942 / 9.2850.
