In early deals on Thursday, the Swedish krona strengthened against the dollar despite a disappointing economic report from Sweden.

The Statistics Sweden said the industrial production fell a working day adjusted 22.9% year-on-year in February compared to the 23.5% fall in January, revised from 22.9 decline reported initially. Economists were looking for a decline of 21.3%.

Month-on-month, industrial output dropped 2.2% in February compared to a 2.8% fall in January, revised from 2.5% drop estimated initially. Economists expected a decline of 1.9%.

At about 6:05 am ET, the krona reached a 2-day high of 8.1635 per dollar, compared to 8.2454 hit late New York Wednesday. If the Sweden currency climbs further, it may likely target the 8.10 level.

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