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JPM See No Change to FX Purchases as Most Likely Outcome

  • On FX purchases, JPM write that they see a 60% change of unchanged FX purchases at NOK 1.4bln, which will do little for NOK.
  • They see a 30% chance of increased NOK sales, on which we can expect another leg lower in NOK on market disappointment. Lastly, they see 10% chance of reduced NOK sales (10%), which should be taken as a veiled response to the weakening currency and NOK should see a sharp rally.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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