LONDON—The Swedish crown was hurt by the Riksbank’s dovish stance on Thursday, while other currency market moves were small as investors awaited key data on U.S. inflation for clues on the U.S. Federal Reserve’s policy-tightening trajectory. Investors’ appetite for riskier assets has been hurt so far this year by expectations that the Federal Reserve will begin tightening monetary policy, starting with a rate hike at its March meeting. Strong earnings helped global stocks rise on Wednesday, but they struggled to maintain this momentum during the Asian and early European sessions on Thursday. Sweden’s central bank took a dovish stance, keeping its monetary policy plans broadly unchanged and stressing its view that surging inflation is temporary. The Swedish crown fell. The U.S. dollar was up 0.9 percent against the krona at 1158 GMT, a one-week high. The euro was also up 0.9 percent against the krona, at 10.509, a 10-day high. …
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