USD/NOK: Here’s why the Norwegian krone has risen to a 2-week high

The USD/NOK pair declined to the lowest level since October 14 as traders reacted to the rising number of Covid-19 cases in Europe. The pair is also reacting to the overall higher crude oil prices. It is trading at 9.1856, which is below last week’s low of 9.300. Norway adds measures to limit Covid spread Most European countries have reported higher number of Covid-19 cases in the past few days. This increase has led many people to fear that the region will go through a double recession this year. Norway, too, has reported more coronavirus cases. The country has so