The Pound may have been on the receiving end of a kicking at the hands of the Euro, much to the disappointment of sellers of the British currency, but it’s not all doom and gloom, especially if you’re looking to sell any of the Scandinavian currencies.
The Pound is in a sorry state having weakened by 3.4% so far this year, making it the second worse performing currency after the Japanese Yen.
The Pound/Swedish Krona currency pair is trading at an eighteen-month low, currently trading around the 10.0751 mark. The Krona has grown in strength over the past few weeks but economists are warning that the strength of the currency could prove damaging to Sweden’s economy as it drags on exports.
The Pound/ Norwegian Krone currency is close to reaching its lowest level since September 2011 making it an ideal time to sell the Norse currency.
The Pound/ Danish Krone meanwhile are also trading at its lowest level since 2011 making it the best time to sell since November 2011.
The Pounds weakness has opened an ideal opportunity to sell the Scandinavian currencies making this week the best time to sell them in over a year. The Pound could reverse some of its losses on the back of some improving economic data so the period of time to sell the Scandinavian currencies may be limited. Already today the Pound has appeared to halt its declines against the US Dollar and the Euro.
These exchange rates were correct as of 09:45 am
The Swedish Krona to Pound Sterling exchange rate is currently trading at 0.09921
The Norwegian Krone to Pound Sterling exchange rate is currently trading at 0.11496
The Danish Krone to Pound Sterling exchange rate is currently trading at 0.11474
The Pound Sterling to Euro exchange rate is currently trading at 1.16823
The Pound Sterling to Swedish Krona exchange rate is currently trading at 10.07924
The Pound Sterling to Norwegian Krone exchange rate is currently trading at 8.69868
The Pound Sterling to Danish Krone exchange rate is currently trading at 10.07924
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