Swedish Krona Rises To Near 4-month High Against Euro

The Swedish krona strengthened against the euro in the early European session on Thursday, after nation's industrial production rose more than expected for January.

Data from Statistics Sweden showed that Sweden's industrial production increased more than expected in January. Industrial production rose a calendar-and-seasonally adjusted 1.0 percent month-on-month in January, faster than a 0.4 percent rise forecast by economists.

On a yearly basis, the industrial production index rose a calender-adjusted 0.8 percent in January, confounding expectations for a 0.4 percent fall.

Also, Industrial orders rose a calender-adjusted 8.9 percent year-on-year in January.The domestic market orders rose by 0.7 percent and orders in the export markets increased by 7.0 percent in January.

Against the euro, the krona rose to nearly a 4-month high of 9.1918 from an early low of 9.2361. At yesterday's close, the krona was trading at 9.2209 against the euro.

If the krona extends its uptrend, it is likely to find resistance around the area.