FxWirePro: USD/DKK consolidates near over 2-year low, investors eye FOMC minutes
Wednesday, August 19, 2020 7:35 AM UTC
- The Danish Krone consolidated near an over 2-year peak as the greenback held firm near recent lows against a basket of currencies.
- The dollar index steadied near an over 2-year trough as investors await the release of the minutes from the July 28-29 FOMC meeting later in the day, with speculation the Fed will adopt an average inflation target.
- The greenback has declined in recent days, weighed down by uncerntainty over the new round of U.S. stimulus and fall in the U.S. Treasury yields.
- USD/DKK is trading flat at 6.2449, having hit low of 6.2228 on Tuesday, its lowest since May 2018.
- Immediate resistance is located at 6.2700, close above could take it till 6.2867 (7-EMA).
- On the downside, support is seen at 6.2220 and any break below will take it till 6.2109.