AI boom rippling across to Britain’s pound, Swedish crown
REUTERS
Dig deeper and the impact of AI, which has helped drive stocks to record highs, is rippling across to currencies.
According to JPMorgan, the resilience of the Swedish crown , or krona, and sterling in recent months may be partially attributable to tech as Sweden and Britain stand out on measures of AI investment and their currencies are receiving a tailwind from this dynamic, even if only a small one.
By one measure, the UK and Sweden received just over $4 billion each last year in private AI investments, ranking third and fourth in a Stanford University AI index of biggest beneficiaries of such investments, behind the United States and China.
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