Norwegian Krone Softens as Norges Bank Tempers Rate Stance
Norway's krone weakened after Norges Bank held rates at 4.25% and softened its hawkish forward guidance, dropping an explicit tightening call.
USDNOK
The Norwegian krone came under pressure after Norges Bank left its policy rate at 4.25% and adopted a less hawkish tone, according to BBH's Elias Haddad.
The central bank shifted its forward guidance from signaling a likely hike to a more conditional stance. The update removed an explicit call for tighter policy.
Traders read the softer language as reducing the chance of another near-term rate increase, which weighed on the krone.
Source: FXStreet Forex News