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EUR/NOK Shows at New Multi-Month Highs on Norges Bank FX Ops

NOK
  • NOK sits offered on the back of the Norges Bank FX sales being upped to NOK 1.4bln/day across November from NOK 1.2bln in October - EUR/NOK hits session highs, aided by the rallying EUR, but USD/NOK also on the front foot, recovering off the overnight low of 11.1306.
  • EUR/NOK showing through the late October high to print the best levels since early July. Likely to place further pressure on the I-44 import-weighted FX rate, which printed at 122.11 yesterday, in close proximity to multi-month highs from Oct26.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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