FxWirePro: USD/SEK extends gains, struggles to break above 8.800
Monday, August 10, 2020 12:48 PM UTC
- The Swedish Krona nudged lower, extending losses for the third straight session as the dollar rallied against a basket of currencies.
- The dollar index gained as investors were wary of a fresh flare up in U.S.-China tensions as Washington imposed sanctions on senior Hong Kong and Chinese officials.
- USD/SEK trades 0.05 percent higher at 8.7431, having hit a high of 8.7758 on Friday, its highest since August 4.
- Immediate resistance is located at 8.7858, any close above could take it near 8.8068.
- On the lower side, support is seen at 8.7095, break below could take it till 8.6855.