|Day's Range||10.578 - 10.625|
|52 Week Range||10.0102 - 10.6898|
Investing.com - The U.S. dollar rose to a new eight-week high in early trade in Europe Tuesday, as news of the deal to avert a fresh government shutdown was overshadowed by continued concerns about the U.S.-China trade war and more bearish talk out of Europe.
Sweden’s Riksbank raises interest rates for the first time in 7 years on Thursday, stoking a rally in the Swedish krona. But it isn’t just good news for the Scandinavian nation, as market participants believe the hike could be a precursor to further European monetary tightening.
The Swedish krona climbed against the dollar and the euro on Thursday after the Riskbank, the country's central bank, hiked interest rates for the first time since July 2011. On the the heels of a Federal Reserve's interest rate hike on Wednesday, the Riksbank lifted its repo rate to negative 0.25% from negative 0.5%. In a statement, the central bank said it must still "proceed cautiously" with its monetary policy, saying the new repo rate will mean "monetary policy is still expansionary and will thereby also continue to support economic activity." The dollar slipped to 8.9357 Swedish krona , down 1.8% at a two-month low, while one euro fetched 10.2540 krona , down 0.9%.