- The Japanese yen had a good day on Tuesday as it rose to its highest level in over two months against the euro. The yen has rallied 5.8 percent over the last month, leading to it becoming the best performer of 10 developed nation currencies.
- Norway is continuing to struggle following the drop in prices of crude oil. Norway’s krone dropped as a Purchasing Managers’ Index (PMI) fell to 49.8 in December, down from 51.4 in November. This reading is particularly worrying for Norway as any reading below 50 indicates contraction. As a result, the krone fell almost a percent to 7.6991 per dollar, its weakest performance in almost a month.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.