Sweden’s Krona Down Further on Economic Outlook

The Swedish currency has been one of the biggest losers in the European currency market as producer prices declined again in September, raising concerns towards the economic recovery in the country.

Since RiksBank affirmed that interest rates in Sweden will continue at record low levels to stimulate the economic growth in the Nordic country, the krona has been having negative sessions which aggravated today after producer prices fell in September, evidencing the fragility of the Swedish economy.

USD/SEK closed today at 6.9705 from an opening rate of 6.8691.