The Norwegian krone is climbing after the central bank decided to hike rates by 25 basis points. Nevertheless, the Norges Bank also suggested that rates to remain at current levels in the coming period. That in practice means the bank may have already reached its ceiling in terms of monetary tightening amid other central banks cutting rates.
The EURNOK falls after the 25 bps rate hike. Source: xStation5
📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls
Hawkish move from the Fed! Warsh takes no prisoners in the fight against inflation. US500 at its lowest since August 3, and gold already below $4,300.
⬇️EURUSD below 1.15 following hawkish Fed
BREAKING: Fed’s Hawkish Hike Triggers Market Reversal: USD Soars as Gold and US500 Retreat