The Swedish krona weakened against the euro in the early European session on Monday.
Meanwhile, data from the Swedbank and the Swedish National Association of Purchasing & Logistics showed that Sweden’s manufacturing activity expanded at the quickest pace in nearly two years in December. The Purchasing Managers’ Index, or PMI, climbed to 56.0 in December from 54.9 in the previous month.
Against the euro, the krona fell to a 1-week low of 9.2076 from an early 5-day high of 9.1469. At last week’s close, the krona was trading at 9.1904 against the euro.
If the krona extends its downtrend, it is likely to find support around the 9.28 region.
The material has been provided by InstaForex Company – www.instaforex.com