News Column

Swedish Krona At 1-week High Against Euro After CPI Data

July 10, 2014

BRUSSELS (Alliance News) - The Swedish Krona firmed against the euro in early European deals on Thursday, as Swedish consumer prices rose unexpectedly in June.

Data from Statistics Sweden showed that Swedish consumer price index increased by 0.2% on month from May, when it fell 0.1%. Economists expected the reading to be flat.

On year, CPI was up 0.2% in June, surpassing forecasts for a flat reading. In May, the inflation fell by 0.2%.

The krona climbed to 9.2188 against the euro, is highest since July 3. If the krona climbs further, 9.20 is seen as next possible resistance level. At Wednesday's close, the pair was worth 9.2627.

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Source: Alliance News

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