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Swedish Krona Jumps as Riksbank Holds Off on Additional Stimulus

Sweden’s krona climbed to a six-week high versus the euro after the nation’s central bank refrained from easing monetary policy and signaled the unprecedented stimulus it’s already doing is helping steer the economy out of a deflationary trap.

Sweden’s currency climbed against all 31 of its major peers. The Riksbank kept its repo rate at minus 0.35 percent and said it was ready to expand monetary stimulus if needed. It also said existing policies were “supporting the continued positive development of the Swedish economy.”