• The Norwegian Krone surged to a 1-week peak after Norway's central bank cut its policy rate to zero, seeking to cushion an economy reeling from the COVID-19 pandemic.
   
• The Norges Bank cut its benchmark interest rate by 25 bps to a record low of 0 percent, while markets were expecting the rate to be left at 0.25 percent.
   
• It was Norges Bank’s third rate cut in less than two months, slashing the cost of borrowing from 1.5 percent. 
   
• USD/NOK trades 0.3 percent down at 10.2407, having touched a low of 10.2043 earlier, its lowest April 30. 
   
• Immediate resistance is located at 10.3431, close above could take it till 10.3782 (20-EMA).
   
• On the downside, support is around 10.1925, break below could take it till 10.1727 (55-EMA).