EURSEK definition

EUR/SEK prices the euro in Swedish kronor, telling you how many kronor one euro will buy. It is Sweden's main currency pair and the most active route into the krona, though as a cross it carries wider spreads and larger swings than the headline majors. No nickname is in common use for it.

The euro is the base currency and the krona the quote currency, so a quote of 11.4000 means one euro is worth 11.4000 kronor. A higher price shows the euro strengthening against the krona; a lower price shows the krona gaining. You trade EUR/SEK as a forex CFD, taking a view on the price rather than owning the currency: go long if you expect the euro to climb, short if you expect it to fall. Even with the large figure, pips are read at the fourth decimal place, and your profit or loss is the pip change multiplied by your position size.

What moves EUR/SEK most is the tight link between the Swedish and eurozone economies, since Sweden sends much of its trade to the bloc and the krona tracks eurozone conditions closely. The policy gap between the European Central Bank and the Riksbank drives the trend, and as a smaller, open currency the krona is quick to weaken when global risk appetite fades.