Swedish Krona Appreciates To 6-day High Vs U.S. Dollar After Riksbank Decision

The Swedish Krona gained ground against the U.S. dollar in early European deals on Wednesday, after Sweden's central bank kept its key interest rate unchanged and affirmed that it would raise rate during the second half of 2019.

The Executive Board decided to retain the repo rate at -0.25 percent, in line with forecasts.

The central bank lifted the repo rate by a quarter-basis points in the December policy session, which was the first hike since July 2011.

The Riksbank reiterated that the next rate hike will occur during the second half of 2019, if the economic outlook and inflation prospects evolve as expected.

The Krona rose to a 6-day high of 9.2066 against the greenback, from a low of 9.2838 seen at 3:15 am ET. Next key resistance for the Swedish currency is seen around the 9.1 region. At Tuesday's close, the pair was worth 9.2560.

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