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Forex News: Swedish Krona Appreciates To 5-day High Vs Dollar

Swedish Krona Appreciates To 5-day High Vs Dollar After Sweden Rate Decision

02/12/2020 - 06:11:00 (RTTNews)

(RTTNews) - The Swedish Krona was higher against the U.S. dollar during the European session on Wednesday, after Sweden's central bank maintained its key interest rate and signaled that rates will remain zero for a prolonged period.

The Executive Board of Riksbank decided to keep its repo rate unchanged at zero percent, as widely expected.

The repo rate remained negative since the start of 2015 until December 2019, when it was raised by 25 basis points to the current level.

The Swedish currency rose to a 5-day high of 9.6132 against the greenback, from Tuesday's closing value of 9.6330. Next immediate resistance for the Swedish Krona is found around the 9.3 level.

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