Forex Flash: USD/NOK year-end target at 5.3000 – Scotiabank
Forex pairs in this Article »
USD/NOK
FXstreet.com (Barcelona) - The cross is gathering pace after bottoming to the area around 5.5640, following a better risk-off tone in the markets.
Camilla Sutton, Chief Currency Strategist at Scotiabank, suggested, "Over the last 6-months NOK has gained 10% against the USD, however the central bank governor Olsen has reiterated several times that NOK strength is not "unexpected". The market is pricing in a 20% chance of an interest rate hike in Norway in 2013. We expect further NOK strength this year, holding a USDNOK year-end target of 5.30".
Camilla Sutton, Chief Currency Strategist at Scotiabank, suggested, "Over the last 6-months NOK has gained 10% against the USD, however the central bank governor Olsen has reiterated several times that NOK strength is not "unexpected". The market is pricing in a 20% chance of an interest rate hike in Norway in 2013. We expect further NOK strength this year, holding a USDNOK year-end target of 5.30".
Free Annual Reports
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=6023a9e8f9e348ebc75238da2f29b06e
