Norway's Krone fell in the minutes following a Norges Bank decision to hike interest rates 50 basis points, an increment markets judge to be too meek in the current high-inflation environment.
Read more: Krone Sinks after Norges Bank says Ready to Ease Back on Rate Hikes
The Swedish Krona fell across the board after the Riksbank raised its policy rate by a bigger than expected margin but slashed its growth projections for 2023.
Read more: Swedish Krona Falls Following Riksbank's 100bp Hike and Recession Forecast
The Swedish Krona has fallen to within striking distance of its coronavirus crisis lows so far in the year and could be at risk of further losses in the week ahead unless the Riksbank is able to convince a hawkish market of its plan for containing rising rates of inflation in Sweden’s economy.
Read more: Swedish Krona at Risk after Market Sets High Bar for Riksbank Rate Decision
The Swedish Krona is the second worst performing major currency of the year and local analysts are worried about the outlook ahead of September's Sveriges Riskbank interest rate decision, which is set to be announced next week and ahead of a series of other central bank policy pronouncements.
Read more: Swedish Krona Analysts Worry About Outlook Ahead of Riksbank Decision
The Russian Ruble is strengthening, but this is not a sign of economic strength and is in fact symptomatic of what can best be described as an import crisis.
Read more: A Strengthening Ruble Belies a Russian Import Crisis
