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SEB Recommend Buying NOK/SEK

SCANDIS

SEB have issued a new trade recommendation to buy NOK/SEK. They target 1.03, with a stop on a daily close below 0.9750.

In the note, they cite:

  • A synchronized and strong global recovery
  • Rising Norges Bank policy rates later this year to run in contrast with an unchanged Riksbank rate
  • Rising oil prices
  • Their short-term fair value model showing the NOK/SEK cross as 'deeply undervalued'
  • They also see EUR/SEK trading poorly, with the cross seen edging lower throughout 2021.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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