gbp-sek-currency-symbols - GBP - SEK

Swedish Krona sees four consecutive days of weakness against the British Pound. On the inter-bank market, Krona seems unable to recover and poised to challenge the 2019 high one more time.

The GBP/SEK exchange rate closed up on Tuesday, settling at 12.4824. During the early Asia trading hours the GBP/SEK rate was seen quoted slightly higher at 12.5054.

The gains in the Pound to Swedish Krona exchange rate are a function of both Pound strength and Krona weakness. The GBP/SEK currency pair suffers from both sides of the monetary policy spectrum.

The weakness in Krona came amidst last week’s dovish Riksbank minutes, which has motivated traders to dump the domestic currency. The division among Riksbank policymakers in regard to the path of negative interest rate policy has set the tone in the currency market. The Sweden central bank is expected to keep the benchmark interest rate at 0.00%, in case they deliver a hike in December, for years to come.

On the other side of the monetary policy spectrum, the Sterling strength was motivated by the recent developments around the UK general election. The Brexit party leader Farage has basically cleared the path for the Prime Minister Boris Johnson’s Brexit deal.

The current trajectory revealed by the UK pools shows the Conservative Party has the highest probability to gain a majority in the UK parliament.

In other news, the UK economic calendar will bring a high risk event that has the potential to generate some volatility. The UK CPI inflation figures are expected to slow down to 1.6% annualized rate in October versus 1.7% prior reading. Lackluster inflation data can motivate the BOE to cut interest rates. Thus, it can motivate currency traders to dump the Pound especially if wedge growth slumps

GBP/SEK Technical Pattern

On the technical level, Krona is seen trading towards the low of 2019 against the Pound. If Krona can’t defend the 2019 low established at 12.6149 then we could expect Krona weakness to prevail. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.