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.
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