The euro plunged to a nine-year low against the Norwegian krone in European trading Thursday morning, as persistent eurozone jitters and spiralling Brent crude oil prices sent currency investors running for the relative safe haven of the Norwegian currency.

Hedgers and investors alike scrambled to take lower positions on the euro vs the krone, as it dropped below the kr7.50 barrier and kept on falling. On a weekly basis, it hasn't closed below kr7.50 since 2003.