Norway’s World-Beating Krone Risks Catch-Up by Swedish Currency
- Krone vulnerable to equity sell-off due to oil economy: Nordea
- Move plays out on Monday as krona leads rally among G-10 peers
This article is for subscribers only.
A world-beating rally in Norway’s currency may soon lose steam as investors turn nervous on risky assets, according to the biggest Scandinavian bank.
Nordea Bank Abp recommends taking a short position in the krone against Sweden’s krona on concerns of a global market turnaround in the next few weeks. Both have soared along with equities in the past few months, making the former the biggest gainer among major currencies, though now it could be exposed to any pullback in oil prices.