NOK remains under year-end pressure - ING

Despite a hawkish Norges Bank surprise last week, which saw the central bank significantly bring forward its expectations for the first rate hike, the Norwegian krone also remains under year-end pressure, explains the research team at ING.

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“Petr Krpata thinks that the trough in the NOK decline will come soon, although the cheap krone lacks any major catalysts for a big rally. Patience is required, but we're looking for a very gentle and gradual decline in EUR/NOK throughout 2018 - and target a move back to the 9.40 area by the end of next year.”