LONDON (Reuters): The Swedish crown was on track on Friday for its biggest weekly gain against the dollar and the euro in 14 years as bets the Federal Reserve was nearly done raising rates supported riskier assets.
The crown fell 0.4% to 10.2460 on the day but was still set for its biggest weekly gain since March 2009, up 5.4% this week. Against the euro , it was set for its biggest weekly gain since July 2009, up 3.1%, after touching a two-month high of 10.3690 on Thursday. It was last down 0.4% at 11.5040.
Easing US inflation and increased bets the Federal Reserve’s rate hikes cycle is nearing an end have been a boon this week to riskier currencies such as the Swedish crown.
