From the FT’s Alice Ross and Richard Milne:
Sweden has indicated it is likely to stay on the sidelines of any fresh round of global “currency wars” after its top central banker said that the krona was at an appropriate level, throwing Sweden into stark contrast with other developed nations that have signalled they are concerned about the strength of their currency.
The Swedish krona rose sharply against other currencies to hit multi-month highs after Stefan Ingves, governor of Sweden’s Riksbank, said at a press conference that the krona was at a good level and that the central bank was not concerned about its recent strength. The central bank kept interest rates on hold at 1 per cent.
Ah well…
