FxWirePro: Danish Krone retreats from 2-month peak as business confidence deteriorates
The Danish Krone retreated from a 2-month peak as the greenback rebounded from multi-week lows. The dollar index steadied after Assistant Secretary of State for East Asia, David Stilwell, stated that U.S. President Donal…
The Danish Krone retreated from a 2-month peak as the greenback rebounded from multi-week lows.
The dollar index steadied after Assistant Secretary of State for East Asia, David Stilwell, stated that U.S. President Donald Trump has a long list of possible responses to China's plans to impose a national security law on Hong Kong, including visa and economic sanctions.
The selling pressure around the Danish currency intensified after data showed Denmark's manufacturing confidence indicator fell to -26 in May from -22 in the previous month, its weakest reading since April 2009.
USD/DKK is trading 0.1 percent up at 6.7795, having hit low of 6.7565 earlier, its lowest since March 31.
Immediate resistance is located at 6.8047, close above could take it till 6.8132 (7-EMA).
On the downside, support is seen at 6.7487, and any break below will take it till 6.7403.
