Sweden delivered a crushing rejection of the single currency yesterday (14 September), turning its back on closer integration with Europe and dealing a savage blow to its own leaders.
In early trading today the euro had risen to SKr9.1915 against the krona, from SKr9.1070 at the close on Friday.
The relatively strong performance of Sweden's economy and concern over the recent unpunished breaches of the stability pact by countries such as France undoubtedly contributed to the outcome, said Mitul Kotecha at Credit Agricole Indosuez. "The krona is likely to remain vulnerable over coming days, with a test of euro support at around SKr9.28 likely."
An expected sympathy vote for Anna Lindh, the foreign minister who was murdered last week, failed to materialise.
Gцran Persson, the prime minister, said the result was clear and would be "very easy to respect". He added: "There is a deep scepticism to the whole Emu project among the Swedish people."
