“We still believe that the market is too bearish on Norwegian growth and too dovish on Norges Bank. Hence, we continue to expect that the NOK will strengthen in 2015 against trading-partner currencies. Meanwhile, EUR/SEK trades close to our 1M forecasts at 9.20 and we expect it to consolidate here.”
“The USD is consolidating as market events are light this week but we remain firmly of the view that the USD will strengthen further, particularly against currencies where central banks are expanding their balance sheets aggressively or can be expected to do so. This includes the JPY, EUR and CHF.
"Note that SNB president Jordan overnight was quoted for saying that Swiss inflation could drop into negative territory and the EUR/CHF cap will remain in place for the foreseeable future.“
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