The EUR/NOK pair is expected to trade as high as 10.75. This was made known by economists at the Nordea Bank.
The Norwegian krone had strengthened last week in tandem with the pullback of the USD and risk-on in financial markets.
A statement from Nordea economists reads, ”Historically speaking, the period towards year-end, remains a difficult period for the NOK seasonality-wise. We don’t think this year will be an expectation given the macroeconomic backdrop and see EUR/NOK trading as high as 10.75.”
“USD/NOK could rise to 11.50 if/when EUR/USD takes a turn to 0.95 again.” it added.
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