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US Dollar to Swedish Krona
USDSEK is susceptible to the monetary policy expectations for the Federal Reserve and the Riksbank (Sweden’s Central Bank). USD to SEK can react to swings in the broad-based investor sentiment trends, Sweden is also a large exporter to the Eurozone meaning developments in the EU can influence SEK price actions. This currency pair tells traders how many Swedish Krona are needed to buy one US Dollar.
US Dollar (ISO code USD)
- The Central Bank of the United States is the Federal Reserve (sometimes referred to as the Fed).
- USD is the main global reserve currency and the United States of America (U.S.A) is the largest economy in the world.
- The (US Dollar) USD is used to price most global commodities (including Oil and Gold).
- The US has a well developed economy with high productivity levels and is fuelled by huge natural resources.
- The International Monetary Fund (IMF) states that the US Gross Domestic Product (GDP) is $15 trillion and makes-up c. 23% of global GDP to exchange rates.
Swedish Krona (ISO code SEK)
- The Swedish Central Bank is the Riksbank (Swedish National Bank)
- A modern economy, Sweden is a producer and exporter of high-tech motor vehicles, machinery, iron, steel and chemicals.
- In 2003 the Swedish people rejected the option to adopt the Euro during a referendum but has not met the pre-existing conditions to join the Euro currency.