[MARKET UPDATE] EUR/NOK continues to fall after the hotter-than-expected Norwegian inflation release for January earlier this week

EUR/NOK continues to fall after the hotter-than-expected Norwegian inflation release for January earlier this week.

The continued decline in EUR/NOK following the hotter-than-expected Norwegian inflation suggests that the NOK may be strengthening in response to prospects of tighter monetary policy from Norway's central bank. This could indicate a divergence in policy direction relative to the Eurozone, which might put further downward pressure on the euro against the Norwegian krone in the near term.