The Norwegian Krone rallied to an over 1-week peak, as the greenback tumbled across the board. The Federal Reserve has led the global monetary policy response to the coronavirus pandemic by cutting interest rates to zero…
The Norwegian Krone rallied to an over 1-week peak, as the greenback tumbled across the board.
The Federal Reserve has led the global monetary policy response to the coronavirus pandemic by cutting interest rates to zero and aggressively buying bonds and corporate credit.
The Norwegian currency also strengthened after data showed Norway's retail trade increased by 1.3 percent year-on-year in March, slowing from a 2.0 percent gain in the previous month.
USD/NOK trades 1.1 percent down at 10.53858, having touched a high of 10.8059 on Thursday, its highest March 25.
Immediate resistance is located at 10.5760, and close above could take it till 10.6370.
On the downside, support is around 10.3596, break below could take it till 10.3153.
