The SEK/NOK currency pair settled below recent high of 1.0987, its strongest level since December 18th, in the wake of local macro data releases.
Data out of Sweden showed the local economy had expanded at a monthly rate of 0.9% in November, following a 0.3% contraction in the prior month.
In annual terms, the nation’s GDP grew 2.7% in November.
Meanwhile, in Norway, annual CPI inflation has picked up to 3.2% in December, the latest data showed, from 3% in November.
It has been the highest inflation rate since September, as prices rose at a faster pace for food and non-alcoholic beverages, transport, housing and utilities, recreation and culture, health, as well as restaurants and hotels.
Norway’s annual inflation adjusted for tax changes and excluding energy products (CPI-ATE) has accelerated to 3.1% in December.
Inflation has remained well above Norges Bank’s target, which suggests a restrictive monetary policy is still necessary.
Norges Bank left its key policy rate without change at 4% at its December meeting, while indicating no rush to lower rates.
Yet, the central bank said it projected one or two rate cuts in 2026.
The exotic Forex pair gained 0.46% for the week.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
