Scandinavians profiting by talking down the Icelandic krona? Skip to content

Scandinavians profiting by talking down the Icelandic krona?

According to RUV-TV “reliable sources” said that Scandinavian investors have been betting against the Icelandic krona in an organized way. They are then said to have tried to talk the exchange rate down with negative statements that sometimes are not well founded.

Ásgeir Jónsson, Economist of Kaupthing bank today said that there was not much new in the report by Danske Bank earlier today. He said the positive part of the story was that now many foreign banks were interested in the Icelandic economy. He said that the Danish banks were sending out the boldest statements, and therefore they had aroused greatest interest, even though many others had been analyzing the Icelandic market. Ásgeir furthermore said that the strengthening of the krona might be the beginning of a more stable market for the currency, but admitted that it was very difficult to forecast what might happen on the foreign exchange market.

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