The Swedish krona rallied across the board on Friday, 27 February, as GDP and retail sales data from Sweden surprised on the higher side.

The Swedish economy expanded 2.7% from a year earlier in the fourth quarter after recording 2.3% in the third quarter and against the market expectations of a decline to 1.5%.

On a quarterly basis, the growth rate increased to 1.1% from 0.45% while analysts had been expecting a repeat of the Q3 figure.

The USD/SEK fell to 8.3076 from the previous close of 8.4046 and against the pound, the Swedish unit dropped to a nine-day low of 12.7838 from the previous close of 12.9473.

The EUR/SEK slipped to a three-week low of 8.3212 from the previous close of 8.4112. Friday's move added to the losses in the cross after Thursday's (26 February) ECB action.

The ECB has launched a bond buying plan that would increase the total monthly fund injection to €60bn ($67.28bn, £43.56bn). The single currency plunged across the board as the monetary expansion was more than expected.

Another set of data from Sweden showed that retail sales in the country grew 5.1% from a year earlier in January from 3.3% in the previous month when the consensus was for a smaller increase to around 4%.

Month-on-month, the retail sales growth rebounded to 1.2% from a 0.6% decline in December while the market was expecting a growth of 0.5%.

In addition, the Swedish PPI rate rose to 0.2% from -0.1% in December on a yearly basis and from -0.3% to 0.2% on a monthly basis.

Against the Norwegian krone, the Swedish unit rose to a three-week high as data from Norway was disappointing even as the neighbour surprised on the higher side. Retail sales in Norway fell 0.7% in January after growing 0.2% in December, as per official statistics.

The NOK/SEK slipped to 1.0864, its lowest since 6 February, from the previous close of 1.0976.