Chart Analysis: USD/NOK

It would seem that if we are moving into a bit larger correction mode here, then the likes of NOK might be a higher beta currency and see an especially sharp correction vs. the greenback due to the popularity of carry trades pairing the USD with commodity currencies.

A squeeze in the short term could introduce surprising volatility to the upside in the short term. The JPY/NOK might even be a bigger mover if bonds find encouragement after today's US auction results.