Sweden Krona Strengthens as Unemployment Holds, Prices Steady

Sweden’s krona strengthened against both the dollar and euro after unemployment was unchanged in January, easing pressure on the central bank to cut interest rates.

The krona strengthened 0.2 percent against the euro to 8.4524 and appreciated 0.2 percent versus the dollar to 6.3309 as of 9:56 a.m. in Stockholm.

Seasonally-adjusted unemployment held at 8 percent in January compared with an estimate 8.2 percent in a Bloomberg survey of 8 economists, Statistics Sweden said. Annual headline consumer prices were unchanged in the month, after declining 0.1 percent the prior month, in line with a survey of 11 economists.

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