The Swedish krona holds onto its gains despite the recent surge of the strength of the US dollar following the breaking news that President Donald Trump and his first lady, Melania Trump testing positive for the coronavirus. It clearly looks like the safe-haven appeal of the US dollar isn’t working well against the Swedish krona and the exchange rate’s prices are bound to crash to its support level in the coming days. Most experts believe that the krona is exploited as one of the strongest currencies in the market right now, well, at least in the short-term outlook it’s undeniably strong. Also, the Swedish krona remains unfazed despite the dovish remarks of the Swedish central bank’s meeting minutes. Recent reports say that Riksbank is willing to deliver further monetary policy adjustments and stimulus which failed to weigh on the nerves of bearish investors. The interest rates of Sweden’s central bank are already sitting on negative territories.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.