EUR/NOK fell to a two-month low

20.06.2019 / 12:40

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NOK has stepped up its interest in buying today after the Norwegian Bank - raised the interest rate from 25 bps to 1.25%, which coincided with the expectations of investors.

Following today's rise, Norges Bank said further tightening remained valid, confirming the view that the Nordic Central Bank continued to separate itself from other developing peoples remaining in dovish territory.

The Norwegian bank justified its decision on interest rates against the backdrop of a stable economy and inflation that is above expectations.

What to expect from NOK?

Risk mood, Brent dynamics, healthy economy and the central bank continue to be the main drivers of the Norwegian currency for the time being. The latest Regional Network Survey results showed that the fundamentals in the Nordic economy remain fairly solid, reinforcing the expectations of further tightening by Norges Bank in the coming months as well as a stronger krona.

Trader Milko Zashev

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EUR/NOK fell to a two-month low

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