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The USD has been trending more strongly in relation to the NOK. (http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=1+usd+in+nok http://www.google.com/sear
by mikegreenberg 16y ago
The USD has been trending more strongly in relation to the NOK. (http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=1+usd+in+nok http://www.google.com/search?sourceid=chrome&ie=UTF-8...) Probably an irrelevant currency for most, but the Kroner has been extremely strong and independent (IMO). Can anyone explain how this trend relates to the above article?
- RockyMcNuts 16y agoNorway has oil and a huge sovereign wealth fund, compared to certain countries that import lots of oil and have lots of debt. See page 5 where they are listed as the least risky sovereign debt in the world (USA still #5, although the people who suggest not raising the debt ceiling are trying to change that) http://blog.stocktwits.com/sponsored-post-cma-global-sovereign-credit-risk-report-for-q4-2010/ http://blog.stocktwits.com/sponsored-post-cma-global-soverei...
- mikegreenberg 16y agoBut even with such independence, the only way to reconcile this article with my observation is to say that the NOK is weakening even faster than the USD. I don't see/understand how that's the case.
- RockyMcNuts 16y agoNot sure I follow the math, since beginning of December NOK is up 14% against the USD, about 3% against the EUR http://www.google.com/finance?q=CURRENCY%3ANOKUSD http://www.google.com/finance?q=CURRENCY%3ANOKUSD