Norwegian Krone Rises To 3-day High Against Euro
19 März 2015 - 11:49AM
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The Norwegian krone strengthened against the euro in the
European session on Thursday, after Norway central bank announced
to hold its key interest rates unchanged.
Norway central bank held its key interest rates unchanged,
defying expectations for further reduction, citing small impact on
the economy from lower oil prices and rising housing prices.
The Executive Board of the Norges Bank left the sight deposit
rate at 1.25 percent, while economists' had predicted a cut to 1
percent.
Against the euro, the krone rose to a 3-day high of 8.6350 from
an early low of 8.9304. At yesterday's close, the krone was trading
at 8.8697 against the euro.
If the krone extends its uptrend, it is likely to find
resistance around the 8.35 area.
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