Currency Note Worldwide

Norwegian krone crumbles as oil price falls

By Ricky Bean December 11th, 2014

  • The Japanese yen had another good day on Wednesday as it is moving towards its largest three-day gain against the US dollar in over a year. The yen jumped over 1% taking its total advance over the last three days to 2.4%. This is the largest since 7th August 2013. It was not just the dollar that the Japanese currency was up against, as it jumped against the majority of its peers as a measure of global currency volatility remained at 15-month highs.
  • The Norwegian krone had a terrible day on Wednesday as it dropped to five-year lows against the euro. Investors are awaiting the central bank’s forecasts on the extent of the impact of falling oil prices on Western Europe’s biggest oil and gas exporter.

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