The Norwegian krone fell to a 5-day low of 6.6743 against the US dollar by 7:20 am ET Tuesday and drifted slightly higher thereafter. On the downside, the Norway's currency may likely target the 6.816 level. The pair that closed Monday's deals at 6.5636 is currently worth 6.6373.
In economic news, the Statistics Norway announced that the industrial production rose a working day adjusted 2.5% year-over-year in February after falling 0.6% in January. On a monthly basis, industrial production increased a seasonally adjusted 2.2% in February, reversing a 1.4% fall in the previous month.
Meanwhile, manufacturing production dropped 5.1% year-on-year in February, after a 4% decline in the preceding month. Month-on-month, manufacturing production dropped 0.1% in February, compared with a 1.3% fall in the prior month.
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