Recent Developments in the USD/SEK Exchange Rate

The United States dollar has shown a modest strengthening against the Swedish krona in early trading on 10 September 2025. The closing level for the USD/SEK pair on 8 September was 9.35112, a figure that remains well below the 52‑week high of 11.3137 (12 January 2025) and comfortably above the 52‑week low of 8.98231 (6 May 2025).

Key Drivers

  1. U.S. Interest‑Rate Environment

    • U.S. short‑term rates were reported at 3.56 % on 10 September 2025, an increase from 3.52 % the previous day.
    • The rise in U.S. rates is a direct factor supporting the dollar, as higher yields attract portfolio flows into U.S. assets.

  2. Dollar Index Movement

    • The dollar index reached 97.7 during the session, indicating a stronger dollar relative to a basket of major currencies.
    • A higher dollar index generally translates into a higher USD/SEK exchange rate.

  3. European Monetary Policy Stability

    • European government bond yields remained largely unchanged during the session, with the 10‑year German yield at 2.66 % and the 10‑year French yield at 2.72 %.
    • The lack of significant movement in euro‑zone yields reduced the pressure on the euro, which in turn limited downward pressure on the dollar.

  4. Global Market Sentiment

    • Equity markets in Europe opened higher, with the Stoxx 600 index up 0.54 % and the FTSE 100 rising 0.31 %.
    • Asian markets were also in positive territory.
    • Overall market optimism supported risk‑taking in U.S. assets, further bolstering the dollar.

Technical Context

  • The USD/SEK pair is trading above its 200‑day moving average, suggesting a bullish short‑term trend.
  • Support levels can be identified near 9.25, while resistance lies around 9.50.
  • The current level of 9.35 sits roughly 4 % above the 52‑week low, indicating a moderate retracement from the recent high.

Outlook

  • Should U.S. policy signals continue to indicate tightening or if the dollar index maintains its upward momentum, the USD/SEK pair is likely to remain in the upper range of its current trading band.
  • Conversely, any reversal in U.S. rate expectations or a shift toward risk‑off sentiment in global equities could create downward pressure on the dollar, potentially pushing the pair toward its 52‑week low.

In summary, the USD/SEK exchange rate is currently influenced primarily by higher U.S. interest rates and a strengthening dollar index, with European yields showing limited movement. The pair’s trajectory will depend on the persistence of these macro‑financial factors and broader market sentiment.