Sell CHF/NOK

Crédit Agricole CIB recommends shorting the CHF/NOK pair at 12.31, targeting 11.70, citing favorable carry dynamics and technical overbought conditions. The trade benefits from a significant interest rate differential exceeding 400bp.

Key Takeaways

• 1.Short CHF/NOK positions are recommended due to a significant rate differential (>400bp) and overbought technical levels.
• 2.The NOK has underperformed recently due to energy price corrections, while the CHF remains well-supported by narrowing rate disadvantages.

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