Currency Traders Stuck in Norway as Volatility Whipsaws Market
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Just because a currency is from a Group of 10 nation doesn’t mean it will be easy to sell when markets become volatile.
Norway’s krone saw the biggest jump in anticipated price swings of any of its major peers over the past month, exceeding emerging-market currencies such as Turkey’s lira and Brazil’s real. A string of disappointing economic data in recent weeks had investors rushing for the exits, sending the krone tumbling on June 5 to its lowest level in almost three months versus the euro.