Norges Bank Sends Norwegian Crown Higher as Dollar Seeks Direction

Norges Bank Sends Norwegian Crown Higher as Dollar Seeks Direction
U.S. Dollar banknotes are seen in this illustration taken on July 17, 2022. Dado Ruvic/Illustration/Reuters
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LONDON/SINGAPORE—The Norwegian crown rose from six-week lows against the dollar and the euro on Thursday after Norges Bank raised interest rates, as expected, and said it was likely to hike again in September.

The dollar hovered around a two month-high after Federal Reserve meeting minutes left the door open for more rate hikes and data this week indicated a resilient U.S. economy.