The Danish Krone declined, extending previous session losses following soft GDP Growth Rate figures. Denmark's Gross Domestic Product expanded 2.2 percent in the fourth quarter after posting an upwardly revised 2.6 perce…
The Danish Krone declined, extending previous session losses following soft GDP Growth Rate figures.
Denmark's Gross Domestic Product expanded 2.2 percent in the fourth quarter after posting an upwardly revised 2.6 percet growth over the same quarter of the previous year.
Earlier Monday, Finance Minister Nicolai Wammen stated the government was raising the ceiling of its wage compensation program for affected businesses to 30,000 kroner ($4,400) per month.
Moreover, the upside in the greenback further dented the Danish currency's bid tone.
USD/DKK is trading 0.5 percent up at 6.7972, having hit low of 6.6950 on Friday, its lowest since Mar. 17.
Momentum indicators are bullish, likely to sustain gains above 21-EMA.
Immediate resistance is located at 6.8064, close above could take it till 6.8120.
On the downside, support is seen at 6.7543 / 6.7487, and any break below will take it till 6.6403 (200-DMA).
