Iceland trade heated up by rate rise
NEWS
The CBI announced a rate hike at the higher end of expectations, bringing its policy rate to 9.5%.
Bjarni Kristjánsson, senior foreign exchange trader at Landsbanki in Reykjavik, said the krona proved to be an attractive short-term purchase for investors, appreciating 1.73% against a basket of nine major currencies on the day the hike was announced (June 6) .
“Most were expecting a 25 basis point hike, but many were starting to lean towards no change, so the extent of the rise came as a surprise
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