- We enter a long USDNOK trade recommendation at 7.8030,
targeting 8.1500, with a stop placed at 7.6900. - Upcoming event risk, the relative rate outlook, positioning and
technicals all support a rise in USDNOK. - We expect the Norges Bank to cut rates next month. In
addition, we expect OPEC to maintain its current production
target at the June meeting.
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