Stars Align for Stronger Norwegian Krone as April Favors Gains
- Krone rose against euro in April in 13 out of 15 past years
- Rising oil price, economic environment beneficial for krone
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There may be gains in store for the Norwegian krone this month as it historically has a tendency to strengthen in April, analysts say.
Norway’s currency has climbed against the euro in April in 13 out of the past 15 years, and versus the Swedish krona in 14 out of the past 15 years. The average gain has been 1.3 percent against the euro and 1.1 percent versus the krona. Economic factors and market positioning may also benefit the krone in coming weeks, according to Danske Bank A/S and SEB AB.