USD/SEK in 2015
USD/SEK opened 2015 at 7.9 and closed at 8.45, a +6.96% move for the year. The high of 8.82 was reached on April 10, and the low of 7.88 on January 6.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 7.9 | 8.27 | 8.27 | 7.88 | +4.74% |
| Feb | 8.29 | 8.36 | 8.42 | 8.23 | +0.75% |
| Mar | 8.34 | 8.63 | 8.75 | 8.26 | +3.41% |
| Apr | 8.65 | 8.38 | 8.82 | 8.31 | -3.12% |
| May | 8.39 | 8.52 | 8.52 | 8.21 | +1.57% |
| Jun | 8.59 | 8.29 | 8.59 | 8.11 | -3.43% |
| Jul | 8.35 | 8.59 | 8.64 | 8.35 | +2.91% |
| Aug | 8.64 | 8.47 | 8.77 | 8.28 | -1.95% |
| Sep | 8.46 | 8.39 | 8.47 | 8.21 | -0.82% |
| Oct | 8.36 | 8.49 | 8.55 | 8.13 | +1.54% |
| Nov | 8.51 | 8.72 | 8.76 | 8.51 | +2.50% |
| Dec | 8.7 | 8.45 | 8.71 | 8.36 | -2.86% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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