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Forex News: Swedish Krona Falls To 2-month Low Against U.S.

Swedish Krona Falls To 2-month Low Against U.S. Dollar After Riksbank Decision

09/22/2020 - 04:54:00 (RTTNews)

(RTTNews) - The Swedish Krona dropped against the U.S. dollar in the European session on Tuesday after the Swedish central bank maintained its interest rate, saying that that the rates will remain low for the next few years.

The bank left its repo rate unchanged at zero percent, as expected.

The measures taken by the Riksbank during the spring and summer would provide support to the economy and help inflation to rise towards the target, according to the accompanying statement.

The Riksbank will continue to make asset purchases and offer liquidity within all of the programmes launched so far this year.

The Swedish Krona weakened to 8.8971 against the greenback, its lowest level in two months. The currency is poised to test support around the 9.2 mark.

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