**As seen in Macro Walk report 05/12/23, subscribe at cablefxm.co.uk/reports
When compared to a month ago, top gainers and losers see moves extending this year. Sterling is now up 3.3% to the dollar vs 2.4% a month ago. Continuation is also recorded in NOK, now down 9.1% vs 6.5% a month ago
This leaves GBP/NOK rising 13.4% YTD, the pair started the year at 11.8511, last at 13.4513. Sterling has posted gains to the krone every month of this year, this extent of outperformance is a rare occurrence given that the currencies share a similar profile in terms of beta
Looking back to 25 years of data, there has never been more than four consecutive months of gains recorded in GBP/NOK
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