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Tactical FX views from Nordea include: - -....>

FOREX
FOREX: Tactical FX views from Nordea include: -
- EUR/USD: Still slightly downwards biased, with resistance around $1.1448.
- EUR/NOK: Rising liquidity a seasonal problem for the NOK even as a first
Norges Bank rate hike beckons. Shorts should stay away until mid-September. If
EUR/NOK reaches NOK9.80 before mid-September, this would be very attractive
levels to re-enter a short from.
- EUR/SEK: Swedish politics and weak inflation has paved the way for an upside
break-out. We still recommend to buy-on-dips.
- EUR/GBP: Sell on rallies above GBP0.90, as Bank of England doesn't tolerate a
much weaker GBP.
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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