The Swedish Krona is edging lower versus the Pound at the start of the new week, after advancing 0.3% across the previous week. The Swedish Krona settled on Friday at 12.4406 after trading a range of 12.3728 – 12.5149 across last week.

At 06:45 GBP/SEK was trading at +0.1% at 12.4423 As investors cheer the return of Prime Minister Boris Johnson and look ahead to the Riksbank monetary policy announcement on Tuesday, along with the release of Swedish retail sales.

Pound Cheers Boris Johnson’s Return

The Pound is advancing as Boris Johnson returns to Downing Street amid growing pressure ti reveal an exit strategy to get the UK out of lock down. So far, the government has said very little about how it intends to get the UK back to work. There are reports that Boris Johnson could modify the lock down as soon as this week but insisting that restrictions will remain in place even if workplaces and schools reopen.

Whilst coronavirus fatalities and new infections are declining at a frustratingly slow pace, the hit on the economy has been hard a fast. Data last week highlighted the severe impact that the covid-19 lock down is having on the UK economy. The composite PMI plunged to a record low of 12.3, down from 34.5. Retail sales also declined at the fastest pace on record in March at -5.1%

The UK economic calendar is quieter this week leaving investors to focus on UK earnings, UK government policy and coronavirus statistics.

No Rate Cut From Riksbank Expected

Swedish Krona investors ae already turning their attention to the release of the Rikssbank interest rate announcement which is due tomorrow. The Riksabank are not expected to start cutting interest rates. Central bank officials are wary of taking the repurchase rate back into negative territory after only having raised it in December after 5 years.

It is worth keeping in mind that the bank’s decision in December was motivated by a desire to prevent negative rates becoming a more permanent state of affairs rather than owing to any particular strength in the Swedish economy. Therefore, economists expect the focus tomorrow to be on tool and measures to ensure that credit continues to flow supporting small businesses in a period when cash flow is a problem. 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.