EUR/NOK seen grinding lower – Danske Bank

Arne Rasmussen, Chief Analyst at Danske Bank, now sees the Norwegian Krone picking up pace towards the 9.20 region in a 3-month horizon.

Key Quotes

“In terms of the NOK, we are slowly approaching the end of the summer period during which we have argued that EUR/NOK should be played as a range play”.

“As market liquidity normalises, we expect EUR/NOK to gradually move lower. We forecast EUR/NOK at 9.40 in 1M and 9.20 in 3M”.