Commerzbank says Hormuz reopening could lift SEK against NOK

Commerzbank··SENO·Read original
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Summary · why it matters

Commerzbank’s Michael Pfister finds that the Swedish Krona could strengthen against the Norwegian Krone if the Strait of Hormuz reopens. The Norwegian Krone reacts more strongly to oil prices than the Swedish Krona, while Riksbank rate expectations adjust more to oil shocks than Norges Bank’s.

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