The Swedish krona strengthened against the euro in the early European session on Tuesday.
In the economic news, data from Statistics Sweden showed that Sweden’s producer prices rose at a slower pace in November.Producer prices climbed 1.3 percent year-on-year in November following a 2.1 percent rise in October.
On a monthly basis, producer prices fell 0.4 percent, reversing the 0.2 percent growth in October.
Against the euro, the krona rose to 9.4963 from an early low of 9.5417. At yesterday’s close, the krona was trading at 9.5347 against the euro.
If the krona extends its uptrend, it is likely to find resistance around the 9.41 area.
The material has been provided by InstaForex Company – www.instaforex.com