21 Mar 2014
CAD and NOK hit by Fed - UBS
FXStreet (Córdoba) - The new prospect of earlier-than-expected rate hikes by the US Fed have weakened CAD and NOK, according to the UBS analyst team.
Key Quotes
"The Bank of Canada is still concerned about risks of low growth and inflation. However, latest data points to a stabilization in Canada, so the CAD should rebound. We see USD/CAD at 1.10 in three months".
"The Norges Bank has similar concerns, and the NOK has recently strengthened more than what we believe is sustainable given the economic situation. We expect EUR/NOK to rise to 8.50 in three months".
Key Quotes
"The Bank of Canada is still concerned about risks of low growth and inflation. However, latest data points to a stabilization in Canada, so the CAD should rebound. We see USD/CAD at 1.10 in three months".
"The Norges Bank has similar concerns, and the NOK has recently strengthened more than what we believe is sustainable given the economic situation. We expect EUR/NOK to rise to 8.50 in three months".