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No Easy Sell for Traders Trapped in Scandanavia

Relatively low liquidity of Norwegian krona and Swedish krone is making those currencies hard to exit as they decline.

By Neal Armstrong, Bloomberg | Updated on June 26, 2013

Foreign-exchange traders becalmed by central-bank largesse are finding that even currencies from Group of 10 nations are about as hard to escape as emerging markets once volatility rises.

Norway’s krone is the biggest loser among 31 currencies tracked by Bloomberg since June 18, the day before the Federal Reserve signaled it may reduce its stimulus measures this year, falling 5.8 percent against the dollar and 3.2 percent versus the euro. Sweden’s krona posted the second-biggest drop. The declines exceeded those of the Polish zloty and Indian rupee.

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