FxWirePro: USD/SEK rebounds from multi-month lows as greenback steadies across the board
The Swedish Krona declined, halting a 10-day winning streak as the greenback rebounded against a basket of currencies. The dollar index steadied after better-than-expected U.S. employment data raised expectations for a q…
The Swedish Krona declined, halting a 10-day winning streak as the greenback rebounded against a basket of currencies.
The dollar index steadied after better-than-expected U.S. employment data raised expectations for a quicker global economic revival
The U.S. nonfarm payrolls rose by 2.509 million jobs last month, versus consensus estimates of a fall of 8 million jobs after a record plunge of 20.687 million in April, while the Labor Department’s employment report showed a decline in the jobless rate to 13.3 percent in May from 14.7 percent in April, a post-World War II high.
USD/SEK trades 0.6 percent up at 9.2265, having hit a low of 9.1296 the last session, its lowest since March 2019.
On Friday, the pair fell to an over 1-year trough to close 0.2 percent lower at 9.1707.
Immediate resistance is located at 9.2647 (5-DMA), any close above could take it near 9.3135 (7-EMA).
On the lower side, support is seen at 9.1127, break below could take it till 9.0894.
