Go long the British pound, the Norwegian krone or the Swedish krona, while shorting the euro.
Say the krona strengthens to a ratio of eight to the euro--by 12.5%, in other words.
They have devalued its Krona which allowed the economy to get on a recovery path.
So you can bet on an appreciation of the krona against the euro in a single transaction.
The Krona peaked in July 2007 and lost over half of its value in the financial crisis.
The British pound, Swedish krona, Swiss franc and Canadian dollar are also trading well above their burger benchmark.
The Icelandic krona sunk like a stone, and foreign exchange still remains limited.
D-mark against the lira, the peseta, the Portuguese escudo and the Swedish krona.
Looking back through the data from 2004 through 2007, the Icelandic krona was one of the most overvalued currencies.
That's especially true as the U.S. dollar gains value against the Icelandic krona -- offering some attractive hotel and shopping opportunities.
More euro-zone capital will flow in then, boosting the krona's value.
The index reflects the strength of the dollar against a basket of six currencies: the euro, yen, British pound, Canadian dollar, Swiss franc and Swedish krona.
The index measures the dollar against a basket of other major currencies, including the euro, yen, U.K. pound, Australian dollar, Canadian dollar, Swiss franc and Swedish krona.
The central bank raised interest rates by a full six percentage points to 18% on October 28th, as trading resumed in the Icelandic krona after a suspension of nearly a week.
The USDX futures contract is designed to replicate the performance of being short the US Dollar against the following currencies: Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
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Other items in the Heritage sale include Crick's endorsed Nobel Prize check in the amount of 85, 739, 88 Swedish krona, dated Dec. 10, 1962, and a white lab coat complete with stains and wear.
One way to get that effect on the Chicago Merc is to make two trades--one in which you are long dollars and short euros, another in which you are short dollars and long, say, the Swedish krona.
With just over a week before Swedes vote on whether to abandon the krona, even the trees are festooned with metre-high signs extolling the virtues of the single currency and warning against the dangers of staying outside.
Suggestions that Iceland should do so have been made cautiously on the left, and by some businessmen, who say they might be happy to swap the Icelandic krona, which fell in value by 13% last year, for the euro.
The USDX measures the value of the US dollar against a basket of currencies that includes the euro, yen, pound, Canadian dollar, Swiss franc and the Swedish krona exactly the currencies that China is most likely including in its own basket and which are now appreciating as a result.
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