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FOREX: CIBC have put out a trade recommendation to short EURNOK at market
(Nok9.9300), targeting Nok9.59 with a s/l at Nok10.11.
- The NOK appears to be well positioned to benefit from the improvement in
risk-tone. Recent data has been supportive - with July inflation partially
surprising to the topside. The Norges Bank meeting on Thursday should re-affirm
that a rate hike is expected for Q4.