The Icelandic crown rallied sharply against the euro on Tuesday after the central bank said Russia would provide Iceland with a loan of 4 billion euros. The crown had dropped 35 percent to record lows earlier on Tuesday on top of losses of 30 percent on Monday on worries about a full-blown financial crisis in Iceland. It recovered all of Tuesday's losses and more to rise to 220 per euro by 0851 GMT, up 4 percent from the previous close, according to Reuters Dealing data.

Earlier this week I opend a modist size possition in the Crown. Iceland is working very diligently to become part of the European Union. Seriouse talks have already started.

Thake Care & Have a Great Weekend!
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