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Forex News: Swedish Krona Strengthens To Over 2-month High Vs

Swedish Krona Strengthens To Over 2-month High Vs Dollar After Sweden Rate Hike

12/20/2018 - 04:48:00 (RTTNews)

(RTTNews) - 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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