{"id":46997,"date":"2019-10-17T02:41:35","date_gmt":"2019-10-17T06:41:35","guid":{"rendered":"https:\/\/currencylive.com\/?p=46997"},"modified":"2019-10-17T03:01:27","modified_gmt":"2019-10-17T07:01:27","slug":"101254-swedish-krona-plunge-to-new-2019-low-against-british-pound","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\/","title":{"rendered":"SEK\/GBP: Swedish Krona Plunge to New 2019 Low against British Pound"},"content":{"rendered":"<p>The Swedish Krona touched a new 2019 low against the British Pound. The move seems to be motivated by growing hopes that the British Prime Minister Boris Johnson and the bureaucrats in Brussels can reach a Brexit deal before the 31 October deadline.<\/p>\n<p>The Brexit market theme being the main macro driver of the GBP\/SEK exchange rate, it\u2019s no surprise to see the Pound on a wild ride. The Swedish Krona is helpless against a British Pound that is gaining traction across the board. Actually, Sterling rose sharply against most of its counterparts. With only 12 days left until the official departure date, there seems to be no reason for the market to calm down.<\/p>\n<p>The Brexit negotiations are still alive, as no official consensus has been reached, so expect any news headlines related to the Brexit talk to be the catalyst for more volatility in the GBP\/SEK exchange rate.<\/p>\n<p>On the other side of the monetary policy spectrum, there are no big risk events that have the potential to disrupt the market volatility. The upcoming Riksbank interest rate decision, Sweden\u2019s central bank is only scheduled at the end of the next week on 24 October.<\/p>\n<h2>GBP\/SEK Technical Pattern<\/h2>\n<p>On the technical side, the seasonal pattern reveals that the Swedish Krona could perform bad throughout the month of October. However, in order to see more conviction into the current GBP\/SEK bullish trend, we need a daily technical close above the 12.6074 high reached on 6 May.<\/p>\n<p>We already reached several levels of overbought readings, so we can\u2019t rule out a pause in the trend. Several possible outcomes can result from the current GBP\/SEK elevated levels. And all trade outcomes are influenced by the intensive Brexit talks.<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>What do these figures mean?<\/strong><\/td>\n<\/tr>\n<tr>\n<td>When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/p>\n<p>For example, it could be written:<\/p>\n<p><em>1 SEK = <span class=\"DFlfde SwHCTb\" data-precision=\"3\" data-value=\"0.080035\">0.080<\/span> GBP<\/em><\/p>\n<p>Here, 1 SEK is equivalent to approximately 0.080 GBP. This specifically measures the Swedish Krona worth against the British Pound. If the Pound amount increases in this pairing, it\u2019s positive for the Krona.<\/p>\n<p>Or, if you were looking at it the other way around:<\/p>\n<p><em>1 GBP = 12.50 SEK<\/em><\/p>\n<p>In this example, <span style=\"font-family: inherit; font-size: inherit;\">1 GBP is equivalent to approximately 12.50 SEK. This measures the Pound&#8217;s worth versus the Swedish Krona. If the Krona number gets larger, it\u2019s good news for the Pound.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h6><em>This publication is provided as general information only and is not intended as an exhaustive treatment of its subject. TransferWise Inc. and its affiliates (&#8220;we&#8221; or &#8220;us&#8221;) expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of this publication, and 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 in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from us.\u00a0 We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The Swedish Krona touched a new 2019 low against the British Pound. The move seems to be motivated by growing hopes that the British Prime Minister Boris Johnson and the bureaucrats in Brussels can reach a Brexit deal before the 31 October deadline. The Brexit market theme being the main macro driver of the GBP\/SEK [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47001,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379],"tags":[1396,1394,1648,1646,1647],"class_list":{"0":"post-46997","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"tag-boris-johnson","9":"tag-gbp","10":"tag-low-2019","11":"tag-sek","12":"tag-swedish-krona"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEK\/GBP: Swedish Krona Plunge to New 2019 Low against British Pound - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"SEK\\\/GBP: Swedish Krona Plunge to New 2019 Low against British Pound\",\"datePublished\":\"2019-10-17T06:41:35+00:00\",\"dateModified\":\"2019-10-17T07:01:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\\\/\"},\"wordCount\":553,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/sek-plunge-low-against-gbp.jpg\",\"keywords\":[\"boris johnson\",\"gbp\",\"low 2019\",\"sek\",\"swedish krona\"],\"articleSection\":[\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101254-swedish-krona-plunge-to-new-2019-low-against-british-pound\\\/\",\"name\":\"SEK\\\/GBP: Swedish Krona Plunge to New 2019 Low against British Pound - 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