Swedish Krona Gains by Most in Almost Five Years as Riksbank Raises Rates

(Bloomberg) -- Sweden's krona advanced by the most
in almost five years against the euro after the country's central
bank lifted its benchmark interest rate and said it will increase
it twice more this year as rising employment threatens to feed
inflation.

The krona soared to its highest this month, and climbed to a
two-week high versus the dollar, after Sweden's central bank, the
Riksbank, raised borrowing costs to 3.5 percent and said its repo
rate would have to be around 4 percent at the end of the year, up
from a previous forecast of 3.5 percent.


Read more at Bloomberg Currencies News