Western Union notes:Huge price break for NOK buyers today as shockingly poor Norwegian factory data stirred rate cut expectations which sent the crown tumbling about 2 percent to five-week lows. Norway’s factory PMI unexpectedly shrank, plunging to 46.6 in May versus forecasts of 50.1 from 50.2 in April. The news increased expectations of a rate cut as soon as the central bank’s coming meeting on June 18.
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