FxWirePro: USD/SEK halts 4-day winning streak as greenback trims losses
Monday, June 1, 2020 12:55 PM UTC
- The Swedish Krona surged to an over 2-1/2 month peak following upbeat manufacturing PMI data.
- Sweden's Swedbank Manufacturing PMI rose to 39.2 in May from a downwardly revised 36.4 in the previous month.
- However, the pair trimmed losses as the greenback attempted a minor recovery against a basket of currencies.
- USD/SEK trades 0.1 percent up at 9.4209, having hit a low of 9.3536 earlier, its lowest since March 9.
- Immediate resistance is located at 9.4532, any close above could take it near 9.4689.
- On the lower side, support is seen at 9.3311, break below could take it till 9.3246.