Norwegian Krone Rises To Near 2-week High Against U.S. Dollar
23 June 2016 - 3:17PM
RTTF2
The Norwegian krone strengthened against the U.S. dollar in the
European session on Thursday, after Norway's central bank held its
key interest rate unchanged for a second consecutive policy
session.
The Executive Board decided to leave the key policy rate
unchanged at 0.50 percent, the Norges Bank said in a statement. The
rate was cut by 25 basis points in March after two reductions last
year.
Against the greenback, the krone rose to nearly a 2-week high of
8.2014 from an early low of 8.2796. At yesterday's close, the krone
was trading at 8.2775 against the greenback.
If the krone extend its uptrend, it is likely to find resistance
around the 7.50 area.
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