EUR/NOK could drop to 9.00 – Danske Bank

In opinion of Arne Rasmussen, Chief Analyst at Danske Bank, the Norwegian Krone could appreciate towards the 9.00 handle vs. the single currency.

Key Quotes

“EUR/NOK has been a little reluctant to buy into the latest uptick in oil prices, but we still see a decent chance of EUR/NOK reaching the 9.00 level in the absence of a major risk sell-off, as domestic conditions are supportive and ECB hike expectations are weighing on EUR crosses more broadly; note also that NOK has historically had a tendency to appreciate during the month of April”.