The Norwegian krone weakened against the U.S. dollar in the European session on Friday.
In other economic news, data from the Labour and Welfare Administration, or NAV showed that Norway’s unemployment came in at 2.9 percent in October, the same rate as in September. The figure was also matched with consensus estimate.
Against the greenback, the krone fell to nearly a 5-week low of 8.5983 from an early high of 8.5339.
If the krone extends its downtrend, it is likely to find support around the 8.62 area.
The material has been provided by InstaForex Company – www.instaforex.com