EUR/NOK: 10.70 seen as the top end of a target range – Credit Suisse EURNOK Banks Norway
“Market expectations ahead of tomorrow’s Norges Bank rate decision have shifted in a dovish direction in Dec, at the same time as soft US CPI data have cast a more constructivefor risk-sensitive currencies . This leaves us with a much less attractive risk-reward to being outright bearish on NOK.”
“We now see our previous EUR/NOK target of 10.70 as the top of a neutral short-term target range, with a lower bound just below the 1 Dec lows, at 10.20.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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