The Norwegian krone saw a sharp decline following an unexpected interest rate cut by the Norges Bank on June 18. Despite renewed selling pressure on the US Dollar in global markets, the USD/NOK exchange rate managed to stay above the 10.00 level, currently trading near 10.10. MUFG analysts suggest that the Dollar remains vulnerable, and recommend selling USD/NOK with a target of 9.60. The forex landscape is shifting rapidly, making it critical for traders to align their strategies with these market cues.