FxWirePro: USD/SEK set for fifth straight monthly decline, struggles to break below 8.6000
The Swedish Krona nudged up, reteating from an over 2-year high hit in the prior session as the dollar index steadied near recent lows against a basket of currencies. The greenback held firm near 2-year lows and was pois…
The Swedish Krona nudged up, reteating from an over 2-year high hit in the prior session as the dollar index steadied near recent lows against a basket of currencies.
The greenback held firm near 2-year lows and was poised to register a fourth straight monthly decline as investors bet on U.S. rates staying low for longer.
USD/SEK trades 0.2 percent higher at 8.6309, having hit a low of 8.6083 on Friday, its lowest since June 2018.
The Swedish currency has gained nearly 7.8 percent this year and was on track for its fifth consecutive monthly gain.
Immediate resistance is located at 8.6640, any close above could take it near 8.6833.
On the lower side, support is seen at 8.5972, break below could take it till 8.5773.
