Norwegian Krone Follows Crude Oil in Rally

Apr 22,2019 17:52   Source:Earnforex
The Norwegian krone gained today as the rally of crude oil boosted currencies of oil exporting nations. The Norway’s currency rallied today for the same reason as the Canadian dollar — the sharp rise of crude oil prices. Norway exports crude oil, therefore it was positive news for the nation’s currency. There are concerns, though, that risk aversion can hurt risk-sensitive commodity currencies, including the krone and the loonie. USD/NOK slipped from 8.5127 […]

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