Convert GBP to SEK
GBP/SEK sees ample fluctuations on the release of key economic data from the UK and Sweden, including GDP, unemployment rate, inflation, trade balance, business sentiment, consumer confidence, retail sales, and PMI readings from the manufacturing and services sectors.
Changes to the monetary policy and interest rates by the Bank of England (BOE) and the Riksbank also cause changes to the value of the GBP and the SEK respectively, and cause the exchange rate of GBP/SEK to experience movements. For instance, if the BOE cuts interest rates or turns dovish about its monetary policy, the GBP weakens, turning this forex pair bearish, and vice versa.
GBP/SEK soared to a high of 12.7752 on 19 February 2020. This is the strongest level the currency pair has touched so far this year.