ING suggests that the exchange rate between the Euro and the Norwegian Krone, currently at 11.51336, will remain close to the 11.50 level until there are changes in the external factors influencing it.

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EURNOK Chart by TradingView

Norges Bank hikes and promises one more in December. Despite the hawkish surprise, EUR/NOK has remained attached to the 11.50 gravity line. Economists at ING analyze the pair’s outlook.

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