SocGen, BofA Say Time to Buy Norway’s Krone as Rout Overdone
- Norges Bank’s delayed start to cut rates seen supporting krone
- Norwegian currency is worst performer in G-10 this year
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Currency strategists and investors are seizing on Norway’s krone as it weakens to the lowest in over a year, betting the currency will rebound from near the bottom toward the top of the Group-of-10 ranking.
Societe Generale SA has a long position on the krone against the dollar as a key trade recommendation in the second half, while Bank of America Corp. says it is undervalued and sees a rebound. Investors including Russell Investments are buying.