The Swedish krona dropped today as Sweden’s consumer confidence was far worse than expected and data from other European countries suggested that the economy of the eurozone remains fragile.
The consumer confidence index declined to -2.9 in October from 2 in September. Analysts have expected it to be just a little lower at 1.7. Other confidence indicators were also lower. The poor data from Sweden added to negative reports from the rest of the European Union.
USD/SEK rose from 6.6472 to 6.6838 as of 12:09 GMT today.
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