Norway krone fell today as the central bank would refrained from increasing the interest rates and on the speculation that the bank would slow the monetary tightening in the future.
Norway’s central bank left its overnight deposit rate unchanged at 2 percent today as was expected. The analysts also expect that the bank would postpone the rates increases till the beginning of the next year as the struggling global economic recovery threatens the Norwegian economy.
USD/NOK traded at 5.8938 as of 12:48 GMT after opening at 5.8627 and reaching the intraday high of 5.9103.
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