USD/SEK Falls Despite Swedish CPI Miss

Mar 12,2019 21:53   Source:Earnforex

Swedish coins with a krona bill on backgroundSweden’s consumer inflation missed market expectations, but that did not prevent the Swedish krona from gaining on the US dollar. The possible reason for that was the fact that US underline inflation also failed to meet expectations.

Statistics Sweden reported that the Consumer Price Index rose 1.9% in February, year-on-year, the same as in January. Analysts had expected a bit faster rate of increase — 2.0%. The rise of prices was mainly driven by higher prices for food and non-alcoholic beverages, clothing, and higher transport costs, while electricity costs actually decreased.

USD/SEK edged down from 9.3836 to 9.3726 as of 14:51 GMT today, while its daily high was at 9.4100 and the low was at 9.3444.

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