Norway's currency reached its lowest level in more than 3 weeks against its US counterpart in late Asian trading on Wednesday.

The Norwegian krone dropped to 5.9858 against the greenback before leveling off around 1:10 am ET. The pair, which closed yesterday's deals at 5.9438, is presently worth 5.9792 with 6.0120 seen as the next target level.

Unemployment data from Statistics Norway is due out at 5:00 am ET. The unemployment rate is seen rising to 3.4% in January from 3.3% in December.

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