GBP/NOK settles above 2-week low, posts weekly loss

The GBP/NOK currency pair settled above Friday’s low of 13.5879, its weakest level since August 7th, after data showed UK manufacturing sector had contracted more than expected in August.

The S&P Global UK Manufacturing PMI came in at a reading of 47.3 in August, down from 48.0 in July, against expectations of 48.3.

Businesses cited weak new orders and intense competition, as global demand was still subdued amid US tariff uncertainty.

On the other hand, UK services sector growth was the fastest in a year in August, surpassing market forecasts.

Meanwhile, Norway’s economy grew 0.8% quarter-on-quarter in Q2 of 2025, picking up from a 0.1% growth in Q1.

In annual terms, Norway’s GDP shrank 2.1% in the second quarter, the latest data showed.

The exotic Forex pair lost 1.56% for the week.