FxWirePro: USD/SEK retreats from 2-year trough, outlook turns bullish
The Swedish Krona plunged, retreating from a 2-year peak hit in the prior session as the greenback surged against a basket of currencies. The dollar index rebounded after President Donald Trump took steps to ban transact…
The Swedish Krona plunged, retreating from a 2-year peak hit in the prior session as the greenback surged against a basket of currencies.
The dollar index rebounded after President Donald Trump took steps to ban transactions with the Chinese owners of two popular mobile apps.
Investors now await non-farm payrolls due later in the day, which are widely expected to show U.S. jobs creation slowed in July from the previous month.
USD/SEK trades 0.5 percent higher at 8.7266, having hit a low of 8.6236 on Thursday, its lowest since June 2018.
Immediate resistance is located at 8.7720, any close above could take it near 8.8068.
On the lower side, support is seen at 8.6394, break below could take it till 8.6010.
