The Norwegian krone witnessed an intense rally this week sparked by a rise in crude oil rates and risk appetite among traders, but today, a downturn in stock markets throughout the world set the Nordic currency down for the first time this week.
A bearish day in stock markets around the world served as a perfect excuse for a corrective movement to bring the Norwegian krone down after hitting the highest level in more 6 months versus the euro earlier this week. Even considering today’s poor performance, the krone remains among the best performing currencies in 2009 among the 16 main traded in foreign-exchange markets.
EUR/NOK closed the day at 8.3105 from an opening price of 8.2595.
If you want to comment on the Norwegian krone’s recent action or have any questions regarding this currency, please, feel free to reply below.
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