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Initially Supported By Hawkish Rate Path Adjustment, Fades, Recent EUR/NOK Range Intact

NOK

The latest adjustments to the Norges Bank’s policy rate path, which were hawkish vs. wider expectations, lend support to the NOK.

  • To refresh, the Norges Bank delivered the widely expected 25bp rate hike and pointed to another hike, most likely in December.
  • Still, with yesterday’s low holding and the cross off worst levels, EUR/NOK sits around the the middle of the well-defined range that has been in play since mid-August, hovering around NOK11.5000 at typing.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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