Swedish Krona Rides Higher on Good GDP Growth

The Swedish krona climbed today as Sweden’s economy demonstrated solid growth in the past quarter, adding to the appeal of the currency.

Swedish gross domestic product (seasonally adjusted) expanded by 1.4 percent in the second quarter of 2012 from the first quarter, when it grew 0.9 percent. The annual increase was at 2.3 percent. The currency also benefited from the general optimism on the Forex market that carried over from the previous week, though the positive sentiment weakened somewhat.

USD/SEK fell from 6.8799 to 6.7876 as of 16:55 GMT today, while earlier it rose to 6.8953.

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