EUR/SEK tanking after Riksbank

FXstreet.com (Barcelona) - The Riksbank has left the lending benchmark intact at 1.50% this morning, broadly in line with market expectations. As a consequence, the Swedish krona is sharply appreciating against the single currency, falling from the 8.7520 region to today's lows in the 8.6965 area.

The move was expected by the vast majority of market participants, reflecting the solidness of the Nordic economy and the investors' confidence.

At the moment the pair is down 0.34% at 8.7079 with the next support at 8.6250 ahead of 8.6165 and then 8.5400
On the upside, a break above 8.7750 would bring 8.7920 and finally 8.8220