Swedish Krona Falls To 2-week Low Against Euro

The Swedish krona weakened against the euro in the early European session on Friday, after data showed that the nation's retail sales growth eased for the second straight month in May.

Data from Statistics Sweden showed that the retail sales volume climbed a working-day-adjusted 3.9 percent year-over-year in May, slightly slower than April's 4.0 percent gain, which was revised up from 3.0 percent rise. Economists had expected the growth to accelerate to 4.2 percent. In March, sales had risen 4.7 percent.

On a monthly basis, retail sales edged down 0.1 percent in May, in contrast to economists' expectations for a 0.3 percent hike. In April, sales showed no variations, revised from a 0.2 percent fall.

Against the euro, the krona fell to a 2-week low of 9.2545 from an early high of 9.2327. At yesterday's close, the krona was trading at 9.2356 against the euro.

If the krona extends its downtrend, it is likely to find support around the 9.40 area.