Pound Sterling / Swedish Krona - GBP/SEK

On the Forex,the fluctuations of the GBP/SEK cross seem to depend on the crossed flucutations of the GBP/EUR (or more precisely on the EUR/GBP) and the EUR/SEK crosses.

A member of the European Union since 1995, Sweden has as main trade partners countries members of the euro area, however the Swedish citizens have refused until now to adopt the European single currency.

With an exchange value GBP/SEK = 13,9288 in January 2000, the cross GBP/SEK increased until a historical higher of GBP/SEK = 15,53 during the Fall 2001, then a regular  and continuous decrease made the Swedish Krona appreciate until January 2005, with the exchange value GBP/SEK = 12,9794.

In few months, the Pound sterling withdraw 10% to the Krona (GBP/SEK = 14,0802 in November 2005).

Then an impression of bearish stability dominated the fluctuations of the cross until December 2007: GBP/SEK = 13,42 in December 2006, then GBP/SEK = 13,07 a year later, in December 2007.

This oriented stability is comparable with the stability of the GBP/EUR cross on the same period.

Then the euro clearly appreciated against the Pound Sterling in 2008 during the world financial and stock-exchange crisis, and the Swedish Krone followed it and appreciated by nearly 10% against the Pound in 2008.

The GBP/SEK cross reached the lower of GBP/SEK = 11,728 on January 31st, 2009.

At the end of the first semester of 2008, the Pound sterling won ground against the Swedish Krona so as against the Euro (GBP/SEK = 12,7194 on June 30th, 2009), but this movement stagnated and the Pound sterling decreased again to a new lower inferior to GBP/SEK = 11,5 reached in January 2010.