Swedish Krona Falls as Riksbank Decision Offers Nothing New
Dow Jones
Aug 20
1402 GMT - The Swedish krona falls to a near four-week low against the euro as the Riksbank's policy decision Thursday didn't provide any new information, Commerzbank's Michael Pfister says. Sweden's central bank left rates unchanged at 1.75% and said a rate rise later this year remains a possibly, but this "essentially reiterated what they said last time," he says. "Some market participants were hoping for two rate hikes this year, this is probably now off the table." Moreover, higher oil prices and risk aversion are probably weighing on the krona amid ongoing U.S.-Iran tensions, he says. The euro rises 0.6% to a high of 11.0877 krona, LSEG data show.
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