Swedish Krona Strengthens To Over 2-month High Vs Dollar After Sweden Rate Hike
December 19 2018 - 11:47PM
RTTF2
The Swedish Krona climbed against the U.S. dollar in early
European deals on Thursday, after the Riksbank unexpectedly lifted
its key interest rate for the first time since 2011.
The Executive board decided to raise the repo rate to -0.25
percent from -0.50 percent. Economists had expected the rate to
remain unchanged.
The repo rate hike will come into effect from January 9,
2019.
Following the December policy session, the bank predicted that
the next interest rate hike will probably occur during the second
half of 2019.
The Swedish Krona appreciated to 8.9456 against the greenback,
its strongest since October 17. The pair was valued at 9.0956 at
yesterday's close. Next key resistance for the Swedish Krona is
seen around the 7.9 region.
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