EUR/NOK backs away from 6-year high

FXStreet (Córdoba) - EUR/NOK pulled back from fresh multi-year highs and steadied below 9.50 Wednesday as concerns about emerging markets dialed down a notch, although the Norwegian currency remains vulnerable weighed by lower oil prices.

EUR/NOK reached its highest level in 6 years at 9.8809 Tuesday, but found sellers and it has been retracing its path down to a daily low of 9.2093. At time of writing, the pair is trading at 9.2150, 0.73% below its opening price.

Ruble sell-off Tuesday dragged the Norwegian krone to fresh 6-year lows against the euro and the dollar as the Russian currency suffered the worst fall since 1998.