EUR/NOK - with year-end NOK headwinds fading we favour selling the cross on valuation, real rates, relative growth, and oil prices
EUR/SEK - we prefer a cautious stance and still think house prices and too aggressive RB pricing limit downside potential
EUR/USD - risk of some USD strength in the 1.16-1.21 range to start the year
EUR/GBP - 0.8650-0.90 range to hold near-term, as we think it is too early to reprice Brexit risks significantly
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