EUR/NOK to target a neutral level of 9.80 – Credit Suisse

Analysts at Credit Suisse now target 9.80 in EUR/NOK, neutral within a 9.70-10.15 range.

EUR/NOK to trade within a 9.70-10.15 range

“We think growth concerns, limited spare oil and gas production capacity, and potential for financial stress contagion suggest NOK will experience diminishing marginal returns from further gains in energy prices.”

“We now target 9.80 in EUR/NOK and expect the pair to trade in a 9.70-10.15 range in the medium-term.”