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Sweden’s‘all weather’ krona turns forex haven

Is the Swedish krona a new haven? Sweden’s currency has been shining even as the euro has tumbled, triggering a reappraisal of its role in investors’ portfolios.

Analysts and investors have long argued that both Sweden and Norway, with their current account surpluses and higher interest rates, should be treated as currency havens.

Yet since the onset of the eurozone debt crisis, and as investors have fretted about the effects on other European nations, the euro has risen against the Scandinavian currencies as it has fallen against the dollar.

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