The Norwegian krone weakened today, posting the fourth day of losses versus the US dollar, after the report showed that the manufacturing expanded less than was predicted and as the crude oil prices declined.
The Norwegian manufacturing output expanded 2.2 percent in December from the previous year, frustrating the analysts who predicted the 4.2 percent gain. The futures on the crude oil declined 0.6 percent as the concerns about the impact of the unrest in Egypt on the oil supply eased.
The
USD/NOK rose from 5.7607 to 5.7798 as of 21:30 GMT today and reached earlier its intraday high of 5.7946, the highest level since January 31.
If you have any questions, comments or opinions regarding the Norwegian Krone,
feel free to post them using the commentary form below.
- admin_mm
- February 7, 2011
- zero comment