The Norwegian krone rallied against the US dollar today even as Norway’s economic growth slowed.
Statistics Norway reported that the nation’s economy demonstrated growth by 0.6% in the period between December and February, down from 0.9% in the previous reporting period. The sharp decrease in the production of electricity was the main reason for the slowdown. Now, traders wait for inflation data due for release tomorrow.
USD/NOK fell from 8.5434 to 8.5258 as of 12:36 GMT today.
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