{"id":82565,"date":"2019-11-25T02:37:39","date_gmt":"2019-11-25T07:37:39","guid":{"rendered":"https:\/\/currencylive.com\/?p=82565"},"modified":"2019-11-25T02:37:39","modified_gmt":"2019-11-25T07:37:39","slug":"101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\/","title":{"rendered":"GBP\/SEK: Krona Edges Higher Amid Weak UK PMI Data"},"content":{"rendered":"<table>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/wise.com\/?utm_source=currencylive-com&utm_medium=affiliate&utm_content=news%2Fwp_json%2Fwp%2Fv2%2Fposts%2F82565&utm_campaign=news\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-65277\" style=\"padding-top: 5px;\" src=\"https:\/\/currencylive.com\/wp-content\/uploads\/2019\/11\/transferwise-inline-banner-money-transfer.jpg\" alt=\"\" width=\"670\" height=\"125\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Swedish Krona rose on the currency market against the Pound amid weak UK PMI figures. Last week, Krona experienced a relief rally leaving the pairing trading at a low of 12.3326, but settled slightly higher at 12.3627. During the early Asia trading hours, the GBP\/SEK exchange rate was seen quoted lower at 12.3461.<\/p>\n<p>Against the greenback, the British Pound fell -0.72% as investors sold off the currency pair following the discouraged UK manufacturing data for November. The UK services PMI dropped to almost 3.5 years low alongside with the Markit Manufacturing PMI, which fell to levels not seen since 2013.<\/p>\n<p>According to most Wall Street analysts this is the longest streak of weakness seen in the UK manufacturing sector in a decade. The UK Markit Manufacturing PMI fell from 49.6 to 48.3while the services business activity dropped to 48.5 versus 50 prior readings. A reading below the 50 mark shows contraction and it\u2019s perceived as bearish for the GBP crosses.<\/p>\n<p>It seems that the headwinds generated by the UK general election uncertainty have spilled over into investor confidences which are reluctant to invest in the UK economy.<\/p>\n<p>The UK Inflation Report Hearings is scheduled to be released by the Bank of England on Wednesday 27<sup>th<\/sup>. Inflation in the UK dropped to 1.5% in the previous month amid the falling prices in the energy sector. Inflation is well below the Bank of England 2% target and according to a BOE report it\u2019s set to slide further to 1.25% in 2020.<\/p>\n<p>From the other side of the monetary policy spectrum, Sweden\u2019s GDP figures for the third quarter will be released on Friday. According to the market consensus the Q3 GDP should experience an uptick from 0.1% prior reading up to 0.2%. The annualized GDP rate is expected to show Sweden economy growing by 1.8% versus 1.0% prior reading.<\/p>\n<h3>GBP\/SEK Technical Pattern<\/h3>\n<p>On the technical front, the GBP\/SEK price pattern has made some progress on the downside and it\u2019s on track to challenge the support level 12.2559.<\/p>\n<table>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/wise.com\/?utm_source=currencylive-com&utm_medium=affiliate&utm_content=news%2Fwp_json%2Fwp%2Fv2%2Fposts%2F82565&utm_campaign=news\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-65277\" style=\"padding-top: 5px;\" src=\"https:\/\/currencylive.com\/wp-content\/uploads\/2019\/11\/transferwise-inline-banner-money-transfer.jpg\" alt=\"\" width=\"670\" height=\"125\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), 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 currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Swedish Krona rose on the currency market against the Pound amid weak UK PMI figures. Last week, Krona experienced a relief rally leaving the pairing trading at a low of 12.3326, but settled slightly higher at 12.3627. During the early Asia trading hours, the GBP\/SEK exchange rate was seen quoted lower at 12.3461. Against the [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":65093,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1698],"tags":[1530,1657,1394,1890,1409,1387,1646,1647],"class_list":{"0":"post-82565","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-sek","9":"tag-bank-of-england","10":"tag-british-pound","11":"tag-gbp","12":"tag-gbp-sek","13":"tag-gdp","14":"tag-inflation","15":"tag-sek","16":"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>GBP\/SEK: Krona Edges Higher Amid Weak UK PMI Data - 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\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\/\" \/>\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\\\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/SEK: Krona Edges Higher Amid Weak UK PMI Data\",\"datePublished\":\"2019-11-25T07:37:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\\\/\"},\"wordCount\":579,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-SEK-Krona-Surges-against-Pound.jpg\",\"keywords\":[\"bank of england\",\"british pound\",\"gbp\",\"gbp\\\/sek\",\"gdp\",\"Inflation\",\"sek\",\"swedish krona\"],\"articleSection\":[\"GBP\",\"SEK\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101577-gbp-sek-krona-edges-higher-amid-weak-uk-pmi-data\\\/\",\"name\":\"GBP\\\/SEK: Krona Edges Higher Amid Weak UK PMI Data - 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