Reported 5 days ago
The volatility in the Norwegian krone surged to its highest level since November as traders reduced their expectations for an interest rate cut by Norges Bank. This change was driven by unexpected inflation data and a corporate sentiment survey suggesting steady growth, leading to a current 30% probability of a rate reduction. The krone has seen significant gains against the euro and dollar, marking its longest winning streak since July 2023.
Source: YAHOO