02.07.2013 - Jitters over Norway's currency unfounded: Strategist
The sell-off in commodity currencies over the past two weeks has hit the Norwegian krone particularly hard, but according to one strategist the decline is "overdone" and the krone is set for a rebound. Since June 17, the krone (NOK) has weakened 6.5 percent against the dollar to 6.0795 and 4.11 percent against the euro to 7.9325 amid concerns that the U.S. Federal Reserve would scale back its stimulus program and after weakness in the Norwegian economy prompted the central bank to delay a rate hike......................................Full Article: Source
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