Swedish currency is trading at levels not seen since financial crisis

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Swedish currency is trading at levels not seen since financial crisis

August 29, 2018 - 15:46
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Swedish currency is trading at levels not seen since financial crisis, while country is getting ready to election that can dramatically change its political landscape, Bloomberg reports.

Sweden © Lena Lindell, CC0 1.0,, CC0 1.0

Swedish currency is trading at levels not seen since financial crisis, while country is getting ready to election that can dramatically change its political landscape, Bloomberg reports.

Krone has been falling for five days already related to euro after it reached the lowest level in nine years. Decline followed after disappointing retail data issued earlier this week. As a result, currency’s losses this year are more than 8%.

Traders are also worried that Riksbank will pull back its plan for raising interest rates from record low, as it expects more evident signs of inflation sticking to 2% level.

Besides, there is still trade war among possible threats, as Sweden more than many other countries relies on export.