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FxWirePro: USD/SEK set for fifth straight monthly decline, struggles to break below 8.6000 

  • The Swedish Krona nudged up, reteating from an over 2-year high hit in the prior session as the dollar index steadied near recent lows against a basket of currencies.
     
  • The greenback held firm near 2-year lows and was poised to register a fourth straight monthly decline as investors bet on U.S. rates staying low for longer. 
     
  • USD/SEK trades 0.2 percent higher at 8.6309, having hit a low of 8.6083 on Friday, its lowest since June 2018.
     
  • The Swedish currency has gained nearly 7.8 percent this year and was on track for its fifth consecutive monthly gain. 
     
  • Immediate resistance is located at 8.6640, any close above could take it near 8.6833. 
     
  • On the lower side, support is seen at 8.5972, break below could take it till 8.5773. 
  • Market Data
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