Forex News

The Norwegian currency ended this week losing versus the euro and the dollar, after the crude oil rally that fueled the krone’s advance during most of this week’s session lost strength, since risk aversion returned to trading markets this Friday with a new Chinese restrictive lending policy announcement.

Risk aversion returned to markets today impacting the Norwegian commodity-linked currency after several days of advances versus the euro and the U.S. dollar as China took a further step in changing its lending requirements for banks in the country, in order to prevent the country’s inflation to grow further.

USD/NOK ended the week at 5.9064 from an opening rate on Friday at 5.8923.

If you want to comment on the Norwegian krone’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Norwegian Krone:

• Crude Oil Advance Favors Norway's Krone (2010-02-09)
• Norway's Krone Falls on Central Bank Warning (2010-02-03)
• Norwegian Krone Tumbles as Commodities Rally Slow Down (2010-01-12)
• Norwegian Krone Falls From 16-Month High (2010-01-08)
• Norwegian Krone At 12-Month High Versus Euro on Oil (2010-01-04)

This entry was posted on Saturday, February 13th, 2010 at 6:07 am and is filed under Norwegian Krone. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.