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11 Jun 2014
Stable inflation supporting NOK - UBS
FXStreet (Córdoba) - The UBS analyst team commented that the Norwegian Krone strengthened thanks to stable inflation rates, and they expect the EUR/NOK to stay around 8.00 in 3 months.
Key Quotes
“The May inflation rate in Norway remained unchanged from the previous month at 1.8% y/y. This pulled EUR/NOK lower, as market were looking for a slightly lower rate after temporary Easter effects lifted the April figure”.
“Over the rest of this year we expect inflation to come down to around 1.5%. Still, this stands in clear contrast to low inflation worries in the Eurozone and highlights the strengthening potential of the NOK against the EUR”.
“We expect EUR/NOK to fall to 8.00 in three months”.
Key Quotes
“The May inflation rate in Norway remained unchanged from the previous month at 1.8% y/y. This pulled EUR/NOK lower, as market were looking for a slightly lower rate after temporary Easter effects lifted the April figure”.
“Over the rest of this year we expect inflation to come down to around 1.5%. Still, this stands in clear contrast to low inflation worries in the Eurozone and highlights the strengthening potential of the NOK against the EUR”.
“We expect EUR/NOK to fall to 8.00 in three months”.