Swedish Krona up against the Euro, $ and Yen

Sunday, 3 April 2011 03:48

The Krona has been the best performer against the 16 other most tradered currencies, up against the Euro, $ and Yen.

UP 9% against the the Euro and 13% against the $ in the last year.

Sweden is the one of the strongest economies in the EU and the Central Bank will be looking at more interest rate rises in the coming months.

Sweden has run an overall trade surplus, yet a deficit with the EU.

Some traders expect the Korna to strengthen towards 8.4 agains the Euro and could go even lower. Yet, based on fundamentals, the currency is still undervalued and if it continues on this path will create issues for Swedish exporters and then the government will have to intervene.