The Swedish krona recovered from an early low against the euro in the European session on Wednesday.
In other economic news, data from the National Institute of Economic Research showed that Sweden’s economic tendency indicator, which reflects how firms and consumers view the economy, rose more-than-expected to 102.7 in July from 101.6 in June, which was revised up from 101.3. It was forecast to rise to 101.5.
Against the euro, the krona rose to 9.4740 from an early more than 5-month low of 9.5273. At yesterday’s close, the krona was trading at 9.4597 against the euro.
If the krona extends its uptrend, it is likely to find resistance around the 9.35 area.
The material has been provided by InstaForex Company – www.instaforex.com