Krona Gains as Sweden’s Economic Growth Beats Expectations

Feb 28,2019 22:38   Source:Earnforex

Swedish coins with a krona bill on backgroundThe Swedish krona gained today after data showed that the nation’s economy expanded last quarter two times the forecast amount.

Statistics Sweden reported that gross domestic product jumped 1.2% in the fourth quarter of 2018 after contracting 0.1% in the previous three months. That is compared to the consensus forecast of a 0.6% growth. It was the fastest pace of expansion since the second quarter of 2017.

USD/SEK traded at 9.2383 as of 21:34 GMT today after opening at 9.2669 and falling to the daily low of 9.1670.

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