Swedish Krona At 2-day Low Vs U.S. Dollar After Sweden Rate Decision
April 27 2017 - 12:27AM
RTTF2
The Swedish Krona lost ground against the U.S. dollar in early
European deals on Thursday, as Sweden's central bank left its key
rate unchanged, while extending the purchases of government bonds
and delaying its expected timing for an interest rate hike until
mid-2018.
The Executive Board of the Sveriges Riksbank held the repo rate
steady at -0.50 percent, in line with economists' expectations.
The repo rate is now not expected to be raised until mid-2018,
which is a quarter longer than was assumed in February, the bank
said.
The Swedish Krona weakened to a 2-day low of 8.8109 versus the
greenback, from a high of 8.7473 hit at 3:15 am ET. The Swedish
Krona is likely to locate support around the 8.84 region.
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