In Norway, inflation was much higher than expected in July. Additionally, a risk-positive market environment is supporting the krone. Economists at ING believe the EUR/NOK could test the 9.65 zone.

Better risk environment and stronger July core inflation help the NOK

“A slightly better risk environment and some stronger July core inflation (making the case for 50 bps at next week's Norges Bank meeting) are helping the Norwegian krone.”

“We now have a window for EUR/NOK to push to the 9.65 area.”

See – Norway: Inflation refuses to slow down, second 50 bps hike incoming – TDS