FxWirePro: Danish Krone rallies to 2-1/2 week peak on better than expected trade data
The Danish Krone surged to a 2-1/2 week peak following the release of upbeat economic data and broad-based U.S. dollar weakness. Denmark's trade surplus increased to DKK 8.9 billion in September from DKK 8.0 billion in t…
The Danish Krone surged to a 2-1/2 week peak following the release of upbeat economic data and broad-based U.S. dollar weakness.
Denmark's trade surplus increased to DKK 8.9 billion in September from DKK 8.0 billion in the same month a year earlier, its largest trade surplus since November last year.
Separate data showed Denmark's current account surplus rose to DKK 19.1 billion in September from DKK 9.9 billion in the previous month.
The dollar hit a 10-week low as a potentially divided U.S. government with Republicans in control of the Senate may mean a smaller fiscal stimulus package.
USD/DKK is trading 0.05 percent lower at 6.2754, having hit low of 6.2644 earlier, its lowest since October 21.
Immediate resistance is located at 6.3105, close above could take it till 6.3242 (7-DMA).
On the downside, support is seen at 6.2584 and any break below will take it till 6.2404.
