The relation is direct. As the SEK devalues so does AMAVF's stock price. Example, say an apple is worth 10 SEK and the exchange rate is 10 SEK = $8. It would cost one $8 to eat that apple. If instead the exchange rate is 10 SEK = $5 then it would only colt $5 to consume it.
However, these are tricky times with announcements due soon about the latest quarter. Also, judging by today's news, the Fed won't be eager to raise interest rates. That in turn means borrowing money will remain cheap and the SEK will be better able to compete with the dollar, so AMAVF's price may find some support in those areas.
Nobody seemed to have a cool head today but for good reason. Remember Grexit and the market's reaction? There's only 11 million people living in Greece and I can't tell that they're producing much more than olives, well, they're the 43rd largest by GDP. Markets have been terribly volatile over the possibility of Greek default or EU exit. Now consider Britain with more than 65 million people, the 5th largest economy in the world, and the 2nd largest in Europe after Germany. The EU will not reward Britain because that would not discourage others from leaving the EU. So I'll not be surprised to see a British and a European recession. If that happens those currencies will devalue in relation to the dollar unless other factors come into play.
I'm guessing companies will get the gitters, especially in Britain, and restrain their activities until it's clear what directions these economies will take.
