The Swedish krona retreated from its early high and fell against the euro in the early European session on Monday.
Meanwhile, data from Statistics Sweden showed that Sweden's retail sales growth slowed more than expected in November. The retail sales volume increased 4.5 percent year-on-year in November, the same rate of growth as seen in October.
Retail sales grew at a pace of 0.5 percent on a monthly basis, slower than the revised 1.1 percent increase seen in October. Economists had forecast a 0.7 percent rise for November.
Against the euro, the krona fell to a 5-day low of 9.5086 from an early high of 9.4435. At last week's close, the krona was trading at 9.4417 against the euro.
If the krona extends its downtrend, it is likely to find support around the 9.73 area.
The material has been provided by InstaForex Company – www.instaforex.com