The Norwegian krone against the euro has risen to its highest level since July of last year, driven by stronger-than-expected inflation data released last week, which continued to push the Norwegian krone higher. EUR/NOK fell as much as 0.7% to 11.4492, marking an eight-month low. USD/NOK fell 0.8% to 10.5661, the lowest since October 3. The money market is pricing in a 9 basis point rate cut by the Norwegian central bank at the meeting on March 27, compared to 13 basis points a week ago and 26 basis points at the end of February.