The Norwegian krone strengthened last week due to the retreat of the USD and risks in the financial markets. However, Nordea’s economists see the EUR/NOK exchange rate at 10.75 until the end of the year. MORE PAIN TO COME “Historically, the end of the year is still a seasonally difficult time for NOK. We do not think this is a promising year due to the macroeconomic background and EUR/NOK trading up to 10.75. „USD/NOK may rise to 11.50 if/when EUR/USD returns to 0.95.”