With only a couple of weeks left until the end of the year it is worth evaluating FX performance this year. As you can see in the chart below, the USD has been a stand-out performer in both the G10 and EM FX spaces. The gains in the buck have also been impressive, highlighting the momentum gained by the buck in recent months. Looking at the G10 space first, the sharpest sell off has been vs. the NOK and the SEK. This is partly down to the decline in the oil price, as Norway is a major oil producer in Europe, but it is also down to a re-adjustment in relative interest rate differentials. Although Norway has a ... (full story)