FxWirePro: Danish Krone hits 2-month peak as economy contracts less than expected
The Danish Krone surged to a fresh 2-month peak as the greenback plunged to multi-week lows. The dollar index slumped after Hong Kong’s government warned that withdrawing its special U.S. status, could be a double-edged …
The Danish Krone surged to a fresh 2-month peak as the greenback plunged to multi-week lows.
The dollar index slumped after Hong Kong’s government warned that withdrawing its special U.S. status, could be a double-edged sword and urged the United States to stop interfering in internal affairs.
Moreover, data showing U.S. jobless claims dropped for the eighth straight time last week further intensified the selling pressure around the greenback.
The Danish currency was also supported by a report showing the economy contracted by 2.1 percent on quarter in the three months to March, compared to a forecast of 3.2 percent drop.
USD/DKK is trading 0.3 percent down at 6.7064, having hit low of 6.7046 earlier, its lowest since March 31.
Immediate resistance is located at 6.7403, close above could take it till 6.7553.
On the downside, support is seen at 6.6950, and any break below will take it till 6.6815.
