The Swedish Krona is extending gains versus the Pound for a third consecutive session on Thursday. The Swedish Krona gained 0.2% of its value versus the greenback on Wednesday, settling at 12.2768.

At 06:15 UTC, GBP/SEK is trading +0.1% at 12.2681 as new government data reveals the true extent of UK coronavirus deaths and as Boris Johnson is set to warn that lock down won’t be eased yet.

GBP: Pound Slips As UK Deaths Pass 26,000

The Pound continues its decent as it was revealed that the UK now has Europe’s second largest coronavirus death toll, with more than 26,000. The new figures came after the government included deaths in the community, such as care homes, in addition to hospital deaths that it tallied before.

Following these horrifying figures, Prime Minister is set to dash hopes of the lock down being lifted early when he holds his first Downing Street press conference since his return to office. This is bad news for the Pound as it means that the UK economy will take longer to fire up.

Boris Johnson’s press conference will come on the same day that the UK car industry warns of a big hit. An industry body cautioned that the industry faces losing output worth £8 billion due to the covid-19 outbreak. Production has been cut by a third, falling to its lowest level since the financial crisis in 2009 as factories and dealerships closed from mid -March. Only a some have reopened

The car industry is the UK’s largest exporter of goods and employs over 800,000 people so a hit to this sector would have negative implications for the UK economy.

SEK: Swedish Krona Advances On Upbeat Household Lending

The Swedish Krona advanced in the previous session following data that revealed thar household lending unexpectedly increased in March. Official statistics showed that lending increased 5.2% year on year last month, up from 5.1% in February and well ahead of the 4.4% increase forecast.

Data from Sweden this week has broadly surprised to the upside indicating that so far the coronavirus hit to the economy has been less severe than analysts had initially expected.

Sweden’s softer stance to tackling coronavirus, by resisting full blown lock down measures appears to be preventing the Swedish economy from all out collapse, so far. That said it is still early days to judge whether the approach is working both in terms of the death toll and the economy.

Sweden has so far had 19,000 confirmed cases and 2,355 fatalities, higher than its Nordic neighbours as it attempts to gain herd immunity. 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.