International Business Times said the Swedish krona rallied to a three-week high against the dollar on Thursday (26 March) on better than expected data prints from Sweden but failed to make significant gains against the euro and the pound thanks to hawkish numbers from the eurozone and the UK.

The USD/SEK fell to 8.4271, its lowest since 6 March, from the previous close of 8.4896.

According to Statistics Sweden, the nation’s trade balance posted a better-than-expected surplus of SEK 4.6 billion in February.

The Swedish krona fell sharply after the country’s central bank unexpectedly cut interest rates to -0,25% and announced an extension to its government bond-buying program to fight against strength in the currency.