Currency Note Worldwide

Norwegian Krone is in disarray

By Ricky Bean June 8th, 2015

The last five days have seen the Norwegian Krone soar to new heights against all major currency pairs – until terrible year-on-year production figures shattered this dream with a reading of -3.4%. This result was a staggering 5.13% lower than expectation, and caused the Krone to depreciate over 1.8% against sterling across the day. The currency markets will wait with baited breath until Wednesday when the inflation data in Norway is released – and this result could may well define Norway’s short term monetary strategy.

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