The Swedish krona fell today after a report showed that nation’s industrial production declined significantly more than expected and as risk aversion damped demand for European currencies.
Industrial production fell 5.2 percent in February from January, compared to the median forecast of 0.3 percent. Annual decline was 7.1 percent, while an advance by 0.5 percent was predicted by analysts. The krona is also hurt by concerns about the crisis in Europe. The Stoxx Europe 600 Index of shares was down as much as 1.2 percent today.
USD/SEK was up from 6.7515 to 6.7794 as of 14:09 GMT today.
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