The Swedish krona declined today after Sweden’s economic growth in the last quarter was revised down. The currency lost the appeal caused by the improving outlook for the future of the European economy.
Swedish gross domestic product expanded 1.3 percent in the second quarter of 2012 from a year ago. The previous estimate was 2.3 percent. The bond-buying program of the European Central Bank improved the outlook for European countries and the Federal Reserve’s QE3 added to risk appetite of Forex traders. Still, the domestic data did not allow the krona to benefit from the positive factors.
USD/SEK advanced from 6.5714 to 6.5870 as of 9:14 GMT today.
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