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Forex Flash: NOK/SEK potential upside to 1.20 – UBS

By FXstreet.com,  January 09, 2013, 04:23:00 AM EDT

FXstreet.com (Barcelona) - Yesterday dovish tone out of the Riksbank minutes - including the likeliness of a rate cut in February - have contrasted with the solid data of the Norwegian economy, where the domestic credit extended its momentum rising 7.1% on a yearly basis.

In the opinion of Syed M.Mohi-uddin, Strategist at the Swiss UBS, "We expect investors to favour carry trades for the next few weeks until concerns mount about the US debt ceiling at the end of February… We buy NOKSEK at 1.1700 with a stop at 1.1585 and a target of 1.2000".




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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