As an income investment, I can now buy 2-year bonds yielding 11% in Icelandic krona. Probably thanks to the U.S. credit crunch. I'm pleased with my investment last year in New Zealand bonds which are paying 9.5% income and have added a 10% currency gain versus the loonie. Iceland is much smaller than NZ but has nearly the highest GDP per capita in the world. I'm an investor and not really a speculator (except for gold)

I don't want to hedge the currency. Any outlook for the Icelandic krona? Does it tend to be correlated with any other currency or anything? (like the price of fish?)