Norwegian Krone Falls To 4-day Low Against Euro
11 Mai 2015 - 10:44AM
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The Norwegian krone weakened against the euro in the early
European session on Monday, after data showed that the nation's
core consumer prices rose less than expected in April.
Data from Statistics Norway showed that Norway's core inflation
eased to 2.1 percent in April from 2.3 in the preceding month. The
consumer price index rose 2.0 percent year-over-year in April, the
same rate of increase as in the previous month. In an another
report, the statistical office announced that producer prices
declined 5.6 percent in April from the previous year, but slower
than March's 6.1 percent decrease. Prices have been falling since
July last year.
Against the euro, the krone fell to a 4-day low of 8.4301 from
an early high of 8.3646. At Friday's close, the krone was trading
at 8.3814 against the euro.
If the krone extends its downtrend, it is likely to find support
around the 8.70 area.
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