Written by Tom Cleveland, foreign exchange market analyst: While the major foreign exchange event of the past decade would surely be the highly successful introduction of the euro, many may have overlooked the results of the more northern “crown” currencies, those belonging to Scandinavian countries and the Republic of Iceland. The national currency, the Icelandic krona (“ISK”), still floats in the Forex market, but economists believe that if present controls were removed too soon, then the current scenario of an appreciating national currency and recovering economy could be placed in jeopardy.