The Swedish krone dropped dramatically on Thursday, as Riksbank decided to ease policy further at the February meeting. The shock came, however, when they also decided to lower the key rate to -0.1 per cent. Off the back of this new, the Swedish currency dropped well over a per cent against both the euro and the dollar – now standing at six year lows.
Thursday saw the New Zealand dollar drop down against the US dollar following the release of worse than expected New Zealand manufacturing, and with concern around the situation in Greece continuing to dominate the headlines. Data showed that the New Zealand Business Manufacturing Index dropped to 50.9 last month, following on from Decembers high reading of 57.1.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.