Krone-Oil Ties Show Cracks as Norway Curbs Deflation: Currencies
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Norway’s krone is showing signs of decoupling from the slump in oil prices that dragged it to a 13-year low this month, as investors say the currency is now poised to benefit from the nation’s success in curbing deflation.
While Brent crude is headed for a fifth straight monthly decline, the krone has rallied 2 percent from its Nov. 4 low against a basket of major currencies tracked by Bloomberg Correlation-Weighted Indexes.