Biggest Norway Bank Says Krone Lost in Emerging Market Trade
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Investing in Norway’s krone is becoming more hazardous as the central bank steers the currency and global trading desks lose their appetite for risk, according to DNB Markets head Ottar Ertzeid.
“The Norwegian krone is almost following the emerging markets currencies,” Ertzeid, who heads the investment banking and markets unit at DNB ASA, Norway’s largest bank, said yesterday in an interview in Oslo. “Norges Bank has contributed to this. The last year has been even less liquid than it used to be and some more liquidity could be helpful.”