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Upside potential in NOK and SEK – Danske Bank

FXStreet (Edinburgh) - The Nordic NOK and SEK could well see their strength renewed in the short term, suggested Allan von Mehren, Chief Analyst at Danske Bank.

Key Quotes

“In the Scandies, we expect Norges Bank’s relatively hawkish stance at last week’s meeting to drive further NOK strength”.

“The topside risk in EUR/SEK has diminished as the market shifts its focus from the election to improving Swedish growth and attractive valuation”.

“We forecast EUR/NOK and EUR/SEK to fall to 8.10 and 9.10, respectively, over the coming month”.

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