This reinforces the note from Barclays here. According to Deutsche, the dollar stands poised to benefit going into month-end but especially against the NOK. The firm argues to fade any USD/NOK weakness leading up to the month-end trade date itself as positioning flows may lead to outsized moves in the pair.
They note that the strong performance of the OBX index and very strong seasonality on the month-end trade date itself as being two key factors in seeing the dollar bid against the Norwegian krone. Besides that, Deutsche also says that its 10-year seasonality factor points to dollar demand against the antipodes i.e. AUD and NZD as well on the month-end trade date itself.
