The EUR/DKK currency pair is expected to touch a level of 7.4350 in the one-month period and 7.44 in the 3-12 months period, according to forecasts by the Danske Bank research group.
Downwards pressure on EUR/DKK eased a bit in the latter half of March. This is probably due to the March 'dividend effect' and the tightening of liquidity requirements in significant currencies on Danish banks.
Overall, 7.44 looks like it is becoming the 'new normal' for EUR/DKK. However, it may test the 7.4330 intervention level in the near-term ahead of the French Presidential election; at least as long as Le Pen is in the race to become the next French President.
"Based on the experience from last year, our view remains that the bar for a DN rate cut is high. Hence, if needed, DN will continue to use FX intervention to fend off downwards pressure on EUR/DKK," the report commented.


US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback
Best Gold Stocks to Buy Now: AABB, GOLD, GDX
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 



