ING Sees Dovish Norges Bank Risk but Stays Bullish Krone vs Euro
ING's Francesco Pesole flags downside risks for the Norwegian krone from a potentially less hawkish Norges Bank message, but keeps a bullish view against the euro.
EURNOK
Francesco Pesole at ING sees some downside risks for the Norwegian krone heading into the Norges Bank meeting. He notes that benign CPI-ATE prints could push communication slightly less hawkish.
Pesole still expects rates to remain at 4.25% today and another hike later this year. However, he is less convinced about multiple additional hikes.
Despite the dovish risks, ING maintains a bullish stance on the krone against the euro.
Source: FXStreet Forex News