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NOK: Nordea Cautious Of NOK Rebalancing Sales Into Month-End

NOK

Nordea see a risk of “a weaker NOK the coming week as Norwegian pension funds and insurance companies need to sell NOK in order to maintain their FX hedge ratio due to the decline in U.S. stocks and bonds through December. Poor liquidity during the Christmas holidays risks reinforcing any such move.”

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Nordea see a risk of “a weaker NOK the coming week as Norwegian pension funds and insurance companies need to sell NOK in order to maintain their FX hedge ratio due to the decline in U.S. stocks and bonds through December. Poor liquidity during the Christmas holidays risks reinforcing any such move.”