US$ strengthens, Swedish unit falls on rate cut
Add BT as a preferred sourceLondon
THE Swedish crown sank one per cent on Thursday after Sweden's central bank surprised markets by cutting interest rates deeper into negative territory and saying it would pump more money into the economy, citing risks from Greece.
The US dollar, meanwhile, hit a three-week high against a basket of major currencies, as investors geared up for a deluge of US data that could back expectations for the Federal Reserve to lift interest rates.
TRENDING NOW
Digital Realty, STT GDC among data centre operators awarded 50 MW of new capacity in Singapore
Jardine C&C selling Singapore, Malaysia dealerships to Indonesia’s Chandra Asri for US$221 million gain
When every phone becomes a satellite phone, what happens to Asia’s telcos?
‘How come you’re so young?’: Gen Z couple takes on Singapore’s established bullion dealers
