NOK remains a ‘buy on dips’ – Danske Bank

Mikael Milhoj, Senior Analyst at Danske Bank, noted that dips in the Norwegian Krone should be regarded as buying opportunities.

Key Quotes

“The clue as to the near-term NOK direction lies in global risk appetite: we see the correction as highly technical in nature and doubt it will have any material impact on the real economy if losses are contained at current levels”.

“If we are right in this selloff proving temporary, it would also mean the NOK setback marks a buying opportunity. Timing is everything; hence look for any stabilisation signs”.