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Krona Falls Even as Swedish Consumer Confidence Improves

May 23, 2014 at 12:03 by Vladimir Vyun

A heap of krone billsThe Swedish krona fell today even as Sweden’s consumer confidence rose this month. The currency logged losses as some other indicators, including the ones for the economic tendency and manufacturing, worsened.

The National Institute of Economic Research reported that the consumer confidence index ticked up from 99.2 to 100.4 in May. At the same time, the manufacturing index dropped from 102.3 to 94.5 and the Economic Tendency Indicator fell from 102.4 to 98.8 this month. As one can see, data was mixed, but the krona preferred to pay more attention to the bad part of the report.

USD/SEK went up from 6.5882 to 6.6447 as of 12:03 GMT today, rising as high as 6.6511 intraday.

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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