Swedish crown rallies after central bank rate hike

The Swedish crown firmed on Thursday after the country's central bank raised its key interest rate by 50 basis points to 3.0%, in line with expectations, and forecast further tightening.

The dollar dropped 1.2% against the Swedish currency to 10.47 having traded down around 0.5% before the decision.

The euro dipped 0.7% to 11.26 having earlier traded down around 0.25%.

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