Bloomberg backing the Krona
Here is the reason -
Krona to be supported by hawkishness from Norwegian central back. They have said that they intend to raise rates in September. Governor Olsen said that means an increase in each of the next four quarters.
- Higher oil helps NOK (it is a 'petro-currency alongside CAD and RUB)
- Crude exports accounts for two fifths of the nation's shipments
- Riksbank, in contrast, no chance of a rate hike until 2023
see chart for entry and key risk to the trade
