gbp-sek-currency-symbols - GBP - SEK

Sweden’s Krona fell to fresh four week low against the British Pound as the Scandinavian government sees negative interest rates in 2021 – 2022. At the interbank market, during the previous trading week, the GBP/SEK exchange rate settled down -0.02% at 12.3870 and was seen quoted within a trading range of 12.2629 and 12.4540.

The SEK has slumped against the Pound as the broader sentiment turned negative. In Sweden, the Finance Ministry cast doubts over the central bank move to leave interest rate behind. According to some government economic forecasts, Sweden is expected to introduce the negative interest rate policy in both 2021 and 2020.

The report came less than a month after the central bank ended NIRP to give them more flexibility in case the economy hits a downturn.

Looking forward over the economic calendar in Sweden the unemployment rate is scheduled to be released on January 23. Currently, Sweden’s unemployment rate stands at 6.8% and according to the market forecast, it’s expected to inch lower by one tick to 6.7%. Sweden’s government also revised upwards its unemployment forecast. The unemployment rate in Sweden is expected to inch to 6.4% through 2020 and 2021 respectively 6.5% in 2022.

In other news, next week the House of Lords in the UK will vote on the PM Boris Johnson’s divorce bill. Once the bill is passed into law, it will clear the path for the UK to leave the 28-nation bloc at the end of the month on January 31.

Elsewhere, risk events like the manufacturing PMI data from the UK and the ECB interest rate decision can disrupt the SEK volatility.

On the technical front, the GBP/SEK failed to capitalize on its drop to around the 12.2650 low and rallied to the higher end of its daily trading range, around the 12.4256. The GBP to SEK rate is expected to remain trapped inside its daily range until the pair can manage to gain some traction.

GBP/SEK was down -0.24% to 12.3553 in late Asian session on Monday. 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.