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NOK: EUR/NOK today printing sixth consecutive session of higher highs, as the
cross re-correlates with oil. With Brent retreating sharply following Trump's
statement last week that he'll target the Iranian economy via sanctions, and not
via military action. EUR/NOK's risen from around 8.80 back above 8.90 without
finding much in the way of resistance, with bulls eyeing the 8.9650 mark (38.2%
October - January decline).
- Next rate decision due next week (23rd Jan) but few surprises are expected
after December's meet resulted in a very flat rate projection path, with no rate
hikes fully priced in across the forecast horizon.