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Forex News: Swedish Krona Rises To 2-day High Against Euro

Swedish Krona Rises To 2-day High Against Euro After Sweden CPI

06/13/2017 - 04:44:00 (RTTNews)

(RTTNews) - The Swedish Krona rose against the euro in early European deals on Tuesday, after data showed that Sweden's consumer price inflation rose more than forecast in May.

Figures from Statistics Sweden showed Sweden's consumer price inflation climbed 1.7 percent year-over-year in May, up from forecasts for a 1.6 percent rise.

Nonetheless, it was below the 1.9 percent rise in April, which was the highest inflation since February 2012.

The Swedish Krona climbed to a 2-day high of 9.7251 against the euro, compared to 9.7975 hit late New York Monday. The Krona is likely to find resistance around the 9.65 zone.

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