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USDSEK

In this section, you will find our latest USDSEK news and analysis, you will also be able to read about its history, and find a live chart for technical analysis.

The krona which translates to “crown” was created in 1876 along with the Scandanavian Monetary Union.

Related currencies: USDMXN – USDNOK – USDRUB – USDSEK – USDJPY – USDINR – USDCNH.

Sweden, along with Norway and Denmark, shared the currency and pegged it to gold. Back then, 1 krona in Sweden and krone for Norway and Denmark was equivalent to 1/2480 of a kilogram of gold. The monetary union lasted until the beginning of the first World War. By August 1914, it was dissolved and the three countries adopted their own independent currencies but maintained the name krona or krone.
What is USDSEK?
USDSEK is the financial symbol referring to the spot exchange rate of the US dollar and the Swedish krona.

The Swedish krona is governed by the Sveriges Riksbank or simply known as the Riksbank. It is known as the world’s oldest central bank, founded in 1668, and the third oldest that has been in operation.

The central bank has the mandate to support economic growth while making sure that inflation does not surge. Following the 2008 financial crisis, the Riksbank was the very first central bank in the world to implement negative interest rates when they cut rates to -0.25%. The Swedish economy is heavily reliant on its exports which are primarily driven by hydropower, iron ore, and timber.

Therefore, data on the trade balance is particularly important in trying to forecast the USDSEK rate. The 2008 financial crisis dampened exports as well as consumption which would explain why the central bank adopted such an aggressive easing measure.

In 2011, the Swedish economy rebounded from the recession. The central bank is widely credited for the turn-around in the economy and its credibility is widely regarded by market participants. With that said, jawboning from Swedish central bankers tend to cause volatility on the Swedish krona and should be considered in your analysis when trading USDSEK.

The Swedish policymakers are also the first ones to adopt a digital currency. They created the e-krona as people found lesser use for physical cash.
Live USDSEK Chart

Forex
·Aug 18, 2022, 11:57 BST

USD/SEK: The Uptrend Looks Set to Continue Post-FOMC

The USD/SEK is up 0.43% this Thursday, as the Swedish Krona continues...
Read More
Forex
·Aug 05, 2022, 09:04 BST

USD/SEK Crosses Key Support Ahead of NFP Data

The USD/SEK Exchange rates declined to the lowest level since June 29th...
Read More
Forex
·Jul 22, 2022, 13:15 BST

USD/SEK: Uptrend to Resume After Correction on FOMC Rate Hike

The USD/SEK looks set to end the week lower, despite being higher...
Read More
Forex
·Nov 29, 2021, 11:20 GMT

USD/SEK Trades Higher As Riskbank Maintains Dovish Stance

The USD/SEK has scored a 5th consecutive day of gains after the...
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Forex
·Feb 26, 2021, 13:35 GMT

USD/SEK Rises 1.12% After Poor Swedish GDP Data

The Swedish Krona took a hit this Friday, after a contraction in...
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Trade ideas
Forex
·Nov 26, 2020, 05:50 GMT

EURSEK: EUR to SEK Outlook Ahead of Riksbank Rate Decision

The EUR to SEK (EURSEK) pair is in a strong downward trend...
Read More
USDSEK
Forex
·Nov 03, 2020, 17:35 GMT

USDSEK In Focus As Swedish GDP Data Set for Release

The USDSEK comes into focus on Thursday as Swedish 3rd quarter GDP...
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Forex
·Oct 21, 2020, 20:17 BST

Swedish Krona Gains As Swedish Home Price Index Rises for 5th Successive Month

The USDSEK extended losses as the Krona benefitted from an increase in...
Read More
USDMXN
Forex
·Sep 29, 2020, 18:56 BST

Greenback Loses Ground to Swedish Krona; Drops Below 9 SEK

USDSEK trades lower as strong economic data boost the Swedish Crown over the Greenback. Sign up to find out more.
Read More
USDSEK
Forex
·Sep 22, 2020, 12:36 BST

USDSEK Higher After Riksbank Keep Rates Unchanged

USDSEK upside bias continues today after the Riksbank kept the interest rates unchanged at 0% as was expected by analysts. The monetary meeting added nothing new
Read More
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