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NOK Firms, Yen Pressured After OPEC Cut Supply

FOREX

NOK is ~0.4% firmer in early dealing on Monday, OPEC+ announced a surprise oil production cut of more than 1 million barrels a day abandoning previous assurances it would hold supply steady link here:

  • USD/NOK is softer last printing at 10.43/44, the pair printed a low at 10.37 in early dealing amid thin liquidity before marginally paring losses.
  • Yen is pressured, USD/JPY is up ~0.4% last printing at ¥133.30/40. Resistance comes in at ¥133.59, the high from 31 March.
  • Elsewhere in G10 CAD is marginally firmer, USD/CAD is down ~0.1% dealing a touch below $1.35 handle.

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