Norwegian Krone Rises To 3-day High Against Euro Despite Norway Rate Cut
17 Março 2016 - 2:54AM
RTTF2
The Norwegian krone strengthened against the euro in the
European session on Thursday, despite Norway's central bank
slashing its key interest rate to a new record low.
The Executive Board of the Norges Bank reduced the key policy
rate by 25 basis points to 0.50 percent. The decision was in line
with economists' expectations.
Against the euro, the krone rose to a 3-day high of 9.3708 from
an early low of 9.4944. At yesterday's close, the krone was trading
at 9.4795 against the euro.
If the krone extends its uptrend, it is likely to find
resistance around the 9.25 area.
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