1. The biggest difference of the Swedish krona is that the Swedish central bank continued to raise the interest rate from negative to zero at the end of 20 19, and the expansion of the balance sheet was much smaller than that of other central banks. The US dollar and currencies of some other major economies have not performed well this year due to the paralysis of some large economies around the world caused by the COVID-19 epidemic. In 2020, the ICE dollar index fell by more than 6%, the resilience of the pound was slightly insufficient, and the pound nearly doubled against the euro. Although Britain has reached an agreement to leave the European Union, the news of Britain's sudden change in COVID-19 prompted investors to sell sterling assets.

Second, but this year there has been a new winner in the foreign exchange market: the Swedish krona. Matt Weller, head of global market research at GAIN Capital, wrote in a report to clients: "The general trend that many traders have not paid attention to in the foreign exchange market this year is the excellent performance of the Swedish krona, which is superior to major competitors such as the US dollar, Canadian dollar, Norwegian krona and British pound. Weller said, "The biggest difference of the Swedish krona is that the Swedish central bank continued to raise interest rates from negative to zero at the end of 20 19, and the expansion of the balance sheet was much smaller than that of other central banks." "After raising the benchmark interest rate to 0%, the Swedish central bank maintained this level in 2020, only slightly adjusting the lending rate of commercial banks to stimulate the economy," he said. When talking about the Swedish government's anti-epidemic measures, Weller pointed out that the Swedish government basically maintained the normal operation of the economy and did not take strict blockade measures like western European countries.

Third, Sweden's measures to fight the epidemic are based on the people's willingness, and it has not adopted a comprehensive blockade like other countries. However, the Swedish government has tightened its epidemic prevention policy in June 5438+065438+ 10 to cope with the increase of new cases. Even the Swedish king said that the country's epidemic prevention policy has failed. However, from an economic point of view, there is evidence that Sweden has avoided the extremely serious labor market collapse suffered by other developed economies. The strength of the Swedish krona may last until next year. Weller said, "The strength of the Swedish krona and the weakness of the US dollar are likely to last until the first quarter of 20021." Weller pointed out that SEK 7.90 is the threshold of exchange rate pressure to be tested in the next stage. 65438+February 24th 1 USD to 8.26 SEK. Since the beginning of the year, the dollar has depreciated against the Swedish krona by 1 1%.