November 16, 2017 / 11:28 AM / in a year

Norway crown currency moves likely tied to non-Norwegian factors

OSLO, Nov 16 (Reuters) - The recent large swings in the value of the Norwegian crown currency do not appear to be caused by specific domestic factors, deputy central bank Governor Jon Nicolaisen told Reuters on Thursday.

“It’s probably tied to a whole range of other moves that don’t necessarily have anything to do with Norwegian factors. Risk pricing, the stock market and all sorts of other things,” he said on the sidelines of a business conference.

“It could be temporary, but it doesn’t have to be,” Nicolaisen added.

The crown hit three-year lows against the euro on Wednesday but have since partly recovered, trading about 1.5 percent stronger. (Reporting by Joachim Dagenborg, writing by Terje Solsvik, editing by Gwladys Fouche)

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