Norwegian Krone Seen Extending Gains Versus Euro
Rabobank says the Norwegian krone is the strongest G10 currency over multiple timeframes and may extend gains against the euro, supported by oil prices, above-target inflation and a hawkish Norges Bank.
EURNOK
Rabobank’s senior FX strategist Jane Foley points to the Norwegian krone as the strongest G10 currency across multiple horizons. The currency is being supported by firm oil prices, inflation running above target, and a hawkish stance from Norges Bank.
Against this backdrop, Rabobank sees scope for further krone gains versus the euro. The assessment frames NOK outperformance as broad-based rather than limited to a short-term move.
No additional forecast levels or timing details were provided in the excerpt.
Source: FXStreet Forex News