The US dollar to Norwegian krone is bound to gradually declineExperts are betting on a bearish trajectory for the USD/NOK exchange rate for several factors. First, currencies that aren’t closely linked to the conditions of the commodity market and crude prices are most likely the ones who can successfully and efficiently recover against the greenback. The Norwegian krone isn’t a commodity-linked currency thus raising the chances for bearish investors of the pair. Second, the safe-haven appeal for the US dollar that is also projected to allow it to be dominant for at least three more months will falter if the United States government or the Federal Reserve ramps up their support for the economy. And looking at the status of the US economy and the labor force, chances that the authorities to unleash more support gets greater. This means that the US dollar to Norwegian krone is bound to gradually decline to its resistance thanks to the news that pressuring bullish investors in sessions.
