FxWirePro: Norwegian Krone at 1-week peak following Norges Bank policy decision
The Norwegian Krone rallied to a 1-week peak following Norges Bank interest rate decision. Norway’s central bank kept its key policy interest rate on hold at a record low zero percent, as expected, and said the economy w…
The Norwegian Krone rallied to a 1-week peak following Norges Bank interest rate decision.
Norway’s central bank kept its key policy interest rate on hold at a record low zero percent, as expected, and said the economy was developing largely as anticipated.
Moreover, weakness in the dollar index further supported the bid tone around the Norwegian currency.
The greenback eased as the U.S. Presidential election entered its final stretch.
Democrat challenger Joe Biden is predicted a U.S. election win over President Donald Trump after pivotal victories in Michigan and Wisconsin, although his party is falling short of expectations in Congressional elections, with the Senate looking increasingly likely to stay in Republican hands.
USD/NOK trades 0.8 percent higher at 9.2306, having touched a low of 9.2297 earlier, its lowest since October 28.
Immediate resistance is located at 9.3947, close above could take it till 9.4205.
On the downside, support is around 9.1985, break below could take it till 9.1778.
