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The USD/NOK pairing highlights the current value of the Norwegian krone (NOK) in relation to the US dollar (USD) in forex trading.

Introduced in 1875, NOK replaced the Norwegian speciedaler as the Scandinavian country's currency.

It is linked predominantly to the global oil sector, while NOK can also fluctuate depending on interest rates in Norway, with these two factors having the greatest bearing on setting the currency's value against its major forex rivals.

The fisheries industry is also one of the most prevalent and important in the Scandinavian country, meaning changes in international fishing quotas, the global price of catches and other maritime factors will all play a role in determining the value of NOK.

USD on the other hand has a myriad number of factors that can increase or lessen its value to varying degrees.

As one of the globe's manufacturing powerhouses, the US can see a fall or rise in its currency depending upon the state of global commodity prices in the agricultural and manufacturing sectors, such as the international price of wheat, grain or high-tech machinery.

Furthermore, having access to considerable natural resources means USD will often move in forex trading as a result of fluctuations in precious metals markets, as well as minerals including coal, tourmaline, granite and much more.

Another factor which has a bearing on both USD and NOK is economic and political developments in each country, with investors advised to keep an eye on announcements from the Federal Reserve regarding the overall state of the US economy in order to better predict future USD price movement.

As a result, individuals interested in understanding the complex relationship between these currencies should remember to keep abreast of movement in each country's respective blue chip indices, as well as announcements from other prominent financial and government organisations.

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Spreads: 28
Margin Requirements: 0.40%
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Contracts for Difference (CFDs) and margined FX are leveraged products which carry a high degree of risk to your capital. Prices may move rapidly against you and may result in you losing more than your initial deposit. CFDs and FX may not be suitable for all investors and you should fully understand the risks involved before opening an account. Please read the Risk Warning Notice on our website.

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  • London Office
    One Financial Markets
    20 Savile Row,
    W1S 3PR 
    United Kingdom
    T: + 44 (0) 207 534 0950   
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    One Financial Markets  (DIFC ) Ltd.
    1008 Index Tower, 
    Al Sa'ada Street,
    Dubai International Financial Centre, 
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    + 971 4 453 1200   
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    +852 2107 2700

One Financial Markets is the trading name of C B Financial Services Ltd, a company registered in England with company number 6050593. C B Financial Services Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Services Board in South Africa (with FSP number 45784).

One Financial Markets (DIFC) Ltd is a company registered in the Dubai International Financial Centre at Index Tower, Level 10, Office 1008, PO Box 507147, Dubai, United Arab Emirates. One Financial Markets (DIFC) Ltd is regulated by the Dubai Financial Services Authority.

One Financial Markets (Asia) Ltd is an approved introducing agent of One Financial Markets, authorised and regulated by the Hong Kong Securities and Futures Commission (with SFC CE No BFZ621).

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