Citigroup Says Sell Canadian Dollar Against Norwegian Krone

By Daniel Tilles

Jan. 6 (Bloomberg) -- Investors should sell the Canadian dollar against the Norwegian krone, according to a Citigroup Inc. report.

Citigroup expects the Canadian dollar-krone rate to “drop to 5.20” and investors should abandon the trade if the rate reaches 6.01, the New York-based bank said in the report, dated yesterday.

The Canadian dollar was at 5.8287 krone as of 7:09 a.m. in London.

To contact the reporter on this story: Daniel Tilles in London at dtilles@bloomberg.net