LONDON, June 30 Reuters The Swedish crown rose on Thursday against the euro after Sweden39;s central bank hiked its benchmark interest rate by 50 basis points as expected.

In the meantime, the euro flattened against most peers, remaining close to a fresh 2015low versus the Swiss franc and near a twoweek low against the U.S. dollar, amid safehaven demand on renewed worries about higher rates and a global recession.

The Swedish crown was up 0.1 against the euro at 10.6810 at 0830 GMT after briefly jumping 0.4 against the euro to 10.6410 following Sweden39;s Riksbanken rate hike to 0.75.

Jesper Petersen, FX analyst at Danske Bank said the kneejerk reaction on SEKcrosses would likely fade as the Riksbank signalled more aggressive hikes during rest of 2022 however, from 2023 and beyond the new rate path was somewhat lower than we expected the Riksbank to present today.

The common currency was set for its worst quarter against the dollar since the end of 2016, on track for a 5.6 quarterly decline.

It was 0.1 lower on the day versus the dollar at 1.0434, after losing 0.75 on the dollar on Wednesday.

It also dropped to a fresh 712year low versus the safehaven Swiss franc at 0.9964 francs, with still basking in the afterglow of the Swiss National Bank39;s surprise rate hike two weeks ago.

Jane Foley, head of FX Strategy at Rabobank London, said rising concerns around recession in the euro zone linked to the energy risk had strengthen safe haven flows, amid fears the…