Norway's currency hits nine-year low vs euro

Norway's crown currency hit its weakest level against the euro since the 2008 financial crisis following the release of weaker-than-expected October retail sales and credit growth data on Thursday. At 0740 GMT, the crown traded at 9.9045 against the euro, a level last seen nine years ago, down from 9.7886 just ahead of the 0700 GMT data release. It then recovered somewhat and was trading at 9.8390 at 0822 GMT.
The crown currency had already been weakening recently, reaching a three-year low on November 15 partly on concerns that weaker housing prices in Sweden and Norway could hurt the two Nordic economies.