Swedish Krona – A Safe Currency
The Krona have started to appreciate considerible against the Euro and other currencies lately. Many currency traders now belive it’s time to add the krona to their portfolios. At least as long the Euro is under pressure.
Swedish Krona – from loser to winner
Last quater, the krona was the worst performing major European currency. The link to Baltic banks and quickly increasing unemployment
rate was part of the problems. Now, it’s gone to the regions leading currency instead.
The reasons behind are a few. To start with, Sweden’s budget deficit are shrinking while most other countries deficit are growing.
The Swedish economy are growing more then twice as fast as Europe’s and the central bank are expected to raise the interest rate by 1 % during 2010.
Fredrik Reinfeldt are also becoming increasingly popular among international investors with his strategy to sell off state assets while cutting taxes. At the same time, Swedens bond and stock market are outperforming it’s European peers.
Currency traders forecast for Swedish Krona
Many of the largest currency traders predict that the krona will gain considerible, about 10-15 % against the Euro, during 2010.
USB, the 2nd largest forex trader have now raised it’s forecast from 10 to 9.5 SEK/EUR in the coming months and to 9.2 in the end of 2010.
Good to see that the countries that did not change to the Euro are doing good. The Euro has only brought financial disaster.