Currency Note Worldwide

Norwegian krone weakens following soft inflation data

By Ricky Bean January 13th, 2014

Elsewhere, the Canadian dollar continued to snowball on Friday following a further release of poor data, with the currency showing no sign that its recent weakness could be coming to an end. Unemployment figures from the North American economy came in significantly worse-than-forecast, causing the currency to dropp to fresh four year lows. The Norwegian krone also struggled following soft inflation figures, triggering speculation that the central bank will announce a rate-cut from the existing 1.5%. The Czech koruna strengthened on Friday after figures suggest that the economy has finally turned a corner having considerably lagged behind other economies’ recovery in 2013.  A quiet week on the data front this week, with business confidence figures out of New Zealand and employment data out of Australia. Get in touch with your trader for a live rate.