The Norwegian krone slumped at the start of today’s trading session, but was slowly rising after that on the anticipation for the Norwegian policy makers to shield the nation from the problems in other countries.
The balanced Norwegian economic policy resulted in the lowest unemployment in Europe, giving the central bank an incentive to raise the interest rates. On the other hand, decisions should be made carefully, as the possible appreciation of the krone may hurt the exporters’ profits from the record oil prices.
USD/NOK opened today at 5.8326, jumped to 5.8731 and dropped to about 5.8292 as of 12:40 GMT.
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