{"id":84400,"date":"2020-01-02T02:03:34","date_gmt":"2020-01-02T07:03:34","guid":{"rendered":"https:\/\/currencylive.com\/?p=84400"},"modified":"2020-01-02T02:02:25","modified_gmt":"2020-01-02T07:02:25","slug":"101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\/","title":{"rendered":"GBP\/SEK Year-End Rally Resurrects Krona\u2019s Negative Sentiment"},"content":{"rendered":"

The last trading day of the year saw the GBP\/SEK rallying strongly, resurrecting Krona\u2019s negative sentiment. At the interbank market, during the final trading session of 2019, the GBP\/SEK exchange rate settled at 12.4177 registering a 1.29% gain.<\/p>\n

The forex exchange market was closed on the 1st Wednesday for New Year\u2019s Day. On the first trading day of the year the Pound to Krona was seen stabilizing at 12.3690 in a light trading day.\u00a0<\/span><\/p>\n

The Swedish Krona sets back, trimming most of its post-UK election gains against the Pound. The sell-off has added more losses to the Krona\u2019s year-to-date performance, which finished 2019 down -9.64%.<\/p>\n

The Scandinavian currency took a dive on the back of the broad-based Pound strength, which continues to be well supported by speculative bids. The British Pound was the second best performing major currency in 2019 as Sterling\u2019s exchange rate was boosted by diminished risk over a no-deal Brexit.<\/p>\n

In the UK, investors are still cautious about the UK\u2019s ability to strike a trade deal with the EU counterpart by December 2020. The relatively short span of time may not be enough for the UK-EU trade relationship. The EU commission chief Ursula von der Leyen suggested that the EU may need to extend the post-Brexit transition deadline as the timeframe is \u201cextremely short\u201d to secure a trade deal.<\/p>\n

Moving forward, there are no major risk events scheduled on the economic calendar that can disrupt the market volatility. While it\u2019s a relatively quiet week ahead, Sweden\u2019s manufacturing activity as compiled by the Swedbank will be released later today. According to the market consensus the manufacturing sector should inch higher to 46.7 in December compared to 45.4 last reading.\u00a0<\/span><\/p>\n

Growth in the manufacturing sector has slowed to its slowest pace since early 2013 due to the slow global growth.<\/p>\n

GBP\/SEK Technical Pattern<\/h3>\n

On the technical front, the GBP\/SEK pair has made a U-turn and its trading inside its previous trading range. The currency pair has resumed its long-term bullish trend and it\u2019s on track to possibly challenge again the 2019 high established in the aftermath of the UK general election.<\/p>\n

\n

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The last trading day of the year saw the GBP\/SEK rallying strongly, resurrecting Krona\u2019s negative sentiment. At the interbank market, during the final trading session of 2019, the GBP\/SEK exchange rate settled at 12.4177 registering a 1.29% gain. The forex exchange market was closed on the 1st Wednesday for New Year\u2019s Day. On the first […]<\/p>\n","protected":false},"author":163946598,"featured_media":47040,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1698],"tags":[1394,1646],"class_list":{"0":"post-84400","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-sek","9":"tag-gbp","10":"tag-sek"},"acf":[],"yoast_head":"\nGBP\/SEK Year-End Rally Resurrects Krona\u2019s Negative Sentiment - 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\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\/\" \/>\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\\\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/SEK Year-End Rally Resurrects Krona\u2019s Negative Sentiment\",\"datePublished\":\"2020-01-02T07:03:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\\\/\"},\"wordCount\":608,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/GBP-SEK-Liquidation-Ahead-Key-UK-Parliament-Vote.jpg\",\"keywords\":[\"gbp\",\"sek\"],\"articleSection\":[\"GBP\",\"SEK\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101931-gbp-sek-year-end-rally-resurrects-kronas-negative-sentiment\\\/\",\"name\":\"GBP\\\/SEK Year-End Rally Resurrects Krona\u2019s Negative Sentiment - 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