The Norwegian krone strengthened against the U.S. dollar in the European session on Thursday, after Norway's central bank held its key interest rate unchanged for a second consecutive policy session.
The Executive Board decided to leave the key policy rate unchanged at 0.50 percent, the Norges Bank said in a statement. The rate was cut by 25 basis points in March after two reductions last year.
Against the greenback, the krone rose to nearly a 2-week high of 8.2014 from an early low of 8.2796. At yesterday's close, the krone was trading at 8.2775 against the greenback.
If the krone extend its uptrend, it is likely to find resistance around the 7.50 area.
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