Quotes from Nordea Markets:
-The NOK stayed range-bound yesterday. With oil prices stuck between USD 60 and 62 per barrel, the NOK does not get further impetus to appreciate.
-With NOK now close to Norges Bank's projection, it is no longer "undervalued", thus further oil price increases are needed for support.
-That said, the market is still pricing a 25 bp cut from Norges Bank. Labour market data (out today) will become increasingly important for Norges Bank going forward.
