The US Dollar / Krone is the most popular pair to trade the Norwegian currency. The price of the Krone is influenced by changes in interest rates and oil prices. The pair saw a lot of volatility between 2002 and 2008 because of the changes in oil prices and the global financial crisis. Norway's economy largely benefits from trade, and a lot of that trade is done with the UK and the Euro-zone. Therefore, the Krone is significantly affected by changes in those economies.
US Dollar continues its sideways range while the gold to silver ratio is at the highest level since the early 90's.