The SEK/USD symbol represents the trading of the Swedish Krona against the US dollar in the forex market. The krona is the official currency in use across Sweden, and even though it is a member of the Eurozone, it is one of the member nations that maintains its own currency instead of adopting the Euro. Sweden's economy is heavily dependent on trade, and as a result, international trade has an important role to play in influencing the exchange rate of SEK/USD. Iron ore is one of the key exports out of Sweden, so any significant fluctuations in the price of iron ore can impact the value of the Swedish krona and drive price action in this currency pair. As an export-oriented economy, Sweden's currency is also heavily dependent on market sentiment. A risk-on sentiment is likely to cause the SEK/USD currency pair to trade bullish, while a risk-off mood could turn this forex pair bearish.On the other hand, the US dollar is the most popularly traded currency in the forex market and is also the most important reserve currency. The US dollar tends to gain attention when markets trade with a risk-off sentiment, as heightened uncertainty sends investors towards the reserve currency and away from riskier instruments.