MUFG: Dollar Vulnerable, Norwegian Krone to Regain Ground, Sell USD/NOK target 9.60

  • The Norwegian krone dipped sharply following the unexpected Norges Bank interest rate cut on June 18th. Although the dollar was subjected to renewed selling in global markets the Dollar to krone (USD/NOK) exchange rate was able to hold above the 10.00 level and is currently trading close to 10.10.