Norway’s gas riches spur a wave of bullish currency calls

Morgan Stanley said the Norwegian currency is likely to surge 15% against the dollar this year, delivering the best return among the G-10 peers. Deutsche Bank AG calls it the cheapest currency in the world. — Bloomberg

OSLO: The immense wealth coming from Norway’s oil and gas fields is underpinning a new refrain among market experts: it’s time for a big rebound in the krone.

Danske Bank A/S and Bank of America Corp said the currency is a bargain given its decade of losses and the fact that Norway is now reaping trillions of krones from energy exports.