Swedish Krona Rises To More Than 2-month High Against Euro

04:30, 26th May 2015

(RTTNews) - The Swedish krona strengthened against the euro in the early European session on Tuesday, after data showed that the nation's producer price inflation accelerated to its highest level in eight months in April.

Data from Statistics Sweden showed that Sweden's producer price index rose 2.4 percent year-over-year in April, faster than previous month's 2.3 percent climb. It was the fourth consecutive monthly increase.

The latest rate of inflation was the highest since August last year, when prices had risen 2.7 percent.

Against the greenback, the krona rose to more than a 2-month high of 9.2051 from an early low of 9.2433. At yesterday's close, the krona was trading at 9.2375 against the greenback.

If the krona extends its uptrend, it is likely to find resistance around the 9.10 area.