The Norwegian Krone surged to a 1-week peak as the greenback eased to fresh lows, while Norway named a new head of sovereign wealth fund. Norges Bank stated that it had appointed a new chief executive for the country’s s…
The Norwegian Krone surged to a 1-week peak as the greenback eased to fresh lows, while Norway named a new head of sovereign wealth fund.
Norges Bank stated that it had appointed a new chief executive for the country’s sovereign wealth fund, and will reveal the name later on Thursday.
Formally known as Norges Bank Investment Management, a unit of the central bank, investing proceeds from Norway's oil and gas industry in foreign stocks, bonds and real estate.
USD/NOK trades 0.6 percent lower at 10.6646, having touched an all-time high of 12.1224 last week.
On Wednesday, the pair broke below 10-DMA, to close lower at 10.7267.
Momentum indicators are bearish on hourly charts.
Immediate resistance is located at 10.8627 (10-DMA), and close above could take it till 10.9029.
On the downside, support is around 10.6370, break below could take it till 10.5862.
