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Investing.com -- The Norwegian krone has fallen to its weakest level against the euro in eight months due to concerns over the impact of U.S. tariffs on the global economy and oil prices.
The krone has been the poorest performing currency among the G-10 since President Trump announced these tariffs last week. Liquidity in the krone is limited, which can significantly magnify the effect of a shock.
Although Norway does not export much directly to the U.S., Norges Bank Governor Ida Wolden Bache warned on Tuesday about the secondary economic impact of tariffs on trading partners. This may indicate a higher risk of interest rate cuts this year, Foley suggests.
The euro has risen to 12.088 krone, reaching its highest level since August, based on data from Investing.com. This comes as the global market grapples with the potential impact of U.S. tariffs, affecting risk sentiment and influencing currency performance.
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