Market News
Euro hits record high against Swedish crown ahead of Riksbank decision
LONDON, Sept 18 (Reuters) - The euro rose to a record high against the Swedish crown on Monday, days before the Riksbank is expected to raise interest rates again.
The euro hit 11.995 crowns, up around 0.6% on the day. Sweden's crown has suffered heavily against the euro this year, losing around 7.5% of its value.
The Swedish crown also weakened to as much as 11.25 per dollar, its lowest level since last October .
Sweden's central bank, the Riksbank, is due to set interest rates on Thursday. Traders think it's highly likely to raise them by 25 basis points to 4%.
The European Central Bank last week raised euro area rates to a record high of 4%.
Reporting by Harry Robertson; editing by Dhara Ranasinghe
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