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Investing.com -- UBS reaffirmed its projections for the Euro to Norwegian Krone (EUR/NOK) exchange rate, maintaining its quarter-end targets at 11.50, 11.30, 11.20, and 11.10 through to March 2026.
The financial services firm noted that the Norwegian krone is particularly susceptible during periods when global growth risks intensify.
"The krone is particularly sensitive to external developments and shifts in market sentiment. The past week illustrated this well, with the currency hit hard as markets reassessed the global growth outlook, incorporating US tariff risks," UBS FX strategist Clemence Dumoncel wrote in a note.
Recent market disruptions have been attributed to the imposition of severe and widespread tariffs by the United States, which have negated any recent advancements made by the Norwegian krone.
Despite the krone's vulnerability in the face of these challenges, UBS expressed a preference for taking a short position on EUR/NOK, indicating an expectation that the krone will strengthen against the euro.
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