Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

The Swedish Krona weakened against the Euro on Thursday, after Riksbank left its benchmark policy rate without change at 3.75% at its June meeting, in line with market consensus.

The decision came after in May Riksbank had delivered the first rate cut since 2016.

The central bank noted that inflation was approaching the 2% objective, while long-term inflation expectations remained stable.

Although core inflation has eased to 3%, recent outcomes were slightly higher than anticipated, implying a need for cautious rate cuts, Riksbank said.

Still, in case inflation prospects do not change, the policy rate could be reduced two or three times in the second half of 2024, the central bank said.

The Swedish Krona was 0.44% weaker on the day against the Euro, with the EUR/SEK currency pair last trading at 11.3325.

The exotic Forex pair advanced to 11.3437, a fresh 2 1/2-week high, immediately after the policy announcement.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Yesterday’s trade (in GMT terms) saw USD/CAD within the range of 1.3157-1.3254. The pair closed at 1.3189, inching up 0.01% compared to Tuesdays close. It has been the 165th gain in the past 303 trading days. The daily high has been the […]
  • Minim appoints Jeremy Hitchcock as Executive ChairmanMinim appoints Jeremy Hitchcock as Executive Chairman Minim Inc, the creator of home networking products and software under the Motorola brand, said last week it had appointed Jeremy Hitchcock as its Executive Chairman, effective immediately.Hitchcock is to succeed Mehul Patel who has […]
  • JDS Uniphase Corp. share price up, plans to separate its optical from its networking businessesJDS Uniphase Corp. share price up, plans to separate its optical from its networking businesses The fiber-optic communications company JDS Uniphase Corp. revealed that it plans to split into two separate publicly traded companies by the third quarter of 2015.JDS, whose market capitalization amounts to $2.78 billion, said it will […]
  • Daimler Q2 profits beat estimatesDaimler Q2 profits beat estimates Daimler AG, the producer of luxury Mercedez branded cars, posted significant gains in second-half earnings as the European auto market bottoms out and new models spur demand. The German automaker hinted a recovery in the West European car […]
  • Market Briefing on Monday June 27thMarket Briefing on Monday June 27th At the start of the US trading session on Monday, EUR/USD traded in proximity to the psychological 1.1000 level, after registering an intraday low of 1.0971. On Friday the common currency tested lows unseen since March 10th, tumbling to 1.0909 […]
  • Major Currency Pairs: Support and Resistance Levels for October 28th 2016Major Currency Pairs: Support and Resistance Levels for October 28th 2016 USD/CHFR1 – 0.9940 R2 – 0.9944 R3 (Range Resistance - Sell) – 0.9948 R4 (Long Breakout) – 0.9959 R5 (Breakout Target 1) - 0.9973 R6 (Breakout Target 2) - 0.9978S1 – 0.9932 S2 – 0.9928 S3 (Range Support - Buy) – 0.9924 S4 […]