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Swedish Krona Rises with Growing GDP

November 29, 2012 at 12:24 by Vladimir Vyun

Swedish coins and banknotesThe Swedish krona gained today amid the positive sentiment among Forex traders and after the data showed that the nation’s economy expanded in the third quarter of this year, increasing appeal of the Swedish currency.

Swedish gross domestic product expanded with the seasonally adjusted rate of 0.5 percent in Q3 2012. The analysts’ expectations were 0.2 percent. The Forex market remains in the risk-positive mode on hopes that the US politicians will manage to find a way to avoid the fiscal cliff. Such sentiment is positive for currencies with higher yield.

USD/SEK fell from 6.6495 to 6.6400 as of 12:24 GMT today.

If you have any questions, comments or opinions regarding the Swedish Krona, feel free to post them using the commentary form below.

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