Sweden’s Krona The "New Franc"

Via The Swedish Wire:

Bloomberg said Sweden’s krona is becoming the new Swiss franc for investors seeking higher interest rates in a growing economy that has a trade surplus and falling debt load.

“The krona can go a lot further”, John Taylor, the founder and chief executive officer of New York-based hedge fund FX Concepts LLC, told the news-bureau: “Sweden has the wind behind it because Bernanke is making the dollar go down and Europe keeps having these traumas”.

The krona is the best performer in a basket of developed-market peers since June, with a 3 percent advance, about twice that of the second-place Norwegian krone.

Swedish Prime Minister Fredrik Reinfeldt recently said that the krona’s value is “not a short- term phenomenon, it’s something we should get used to”.

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