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Forex News: Swedish Krona At 2-day Low Vs U.S. Dollar

Swedish Krona At 2-day Low Vs U.S. Dollar After Sweden Rate Decision

04/27/2017 - 04:27:00 (RTTNews)

(RTTNews) - 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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