FxWirePro: USD/SEK plunges to 2-1/2 month low, outlook continues to remain bearish
The Swedish Krona advanced to a 2-1/2 month peak following upbeat growth figures. The Swedish economy advanced 0.1 percent on quarter in the first three months of 2020, compared to an initial estimate of a 0.3 percent co…
The Swedish Krona advanced to a 2-1/2 month peak following upbeat growth figures.
The Swedish economy advanced 0.1 percent on quarter in the first three months of 2020, compared to an initial estimate of a 0.3 percent contraction and beating forecasts of a 0.6 percent decline.
USD/SEK trades 1.2 percent down at 9.4107, having hit a low of 9.4103 earlier, its lowest since March 9.
Immediate resistance is located at 9.5634, any close above could take it near 9.5993.
On the lower side, support is seen at 9.3851, break below could take it till 9.3575.
