UBS adds Norwegian krone to top FX picks as oil rally seen capped

UBS adds Norwegian krone to top FX picks as oil rally seen capped

Source: EODHD - https://finance.yahoo.com/markets/currencies/articles/ubs-adds-norwegian-krone-top-152821017.html
Published: Jul 23, 2026 11:28 AM

Investing.com -- UBS expects currency markets to remain sensitive to developments in the Middle East, but believes global oil market adjustments should prevent a sustained surge in crude prices, reducing the need for additional interest rate hikes by major central banks and supporting risk assets. The bank said swings in oil prices linked to the Iran conflict have been the main driver of inflation expectations and currency moves. While renewed tensions have lifted crude prices, UBS expects the conflict to alternate between periods of escalation and de-escalation, with Brent crude unlikely to remain above $100 a barrel in the near term. That backdrop should allow most G10 central banks to kee...

Market context: This update is relevant to AUD traders, with AUDUSD as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.