The Swedish krona strengthened against the euro in the early European session on Thursday, after data showed that the nation’s unemployment rate decreased more-than-expected in November.
Data from Statistics Sweden showed that the jobless rate fell to 6.2 percent in November from 6.7 percent in the preceding month. Economists had expected the unemployment rate to drop slightly to 6.6 percent.
Against the euro, the krona rose to a 2-day high of 9.2625 from an early low of 9.2856. At yesterday’s close, the krona was trading at 9.2741 against the euro.
If the krona extends its uptrend, it is likely to find resistance around the 9.16 area.
The material has been provided by InstaForex Company – www.instaforex.com