FxWirePro: USD/DKK hits 1-1/2 week trough, dip till 6.2690 likely
The Danish Krone rallied to an over 1-week peak as the greenback eased against a basket of currencies. The dollar index declined as caution crept in ahead of the release of U.S. Federal Reserve minutes later this week. M…
The Danish Krone rallied to an over 1-week peak as the greenback eased against a basket of currencies.
The dollar index declined as caution crept in ahead of the release of U.S. Federal Reserve minutes later this week.
Markets speculate the Fed will adopt an average inflation target, which would seek to push inflation above 2 percent for some time to make up for the years it has run below it.
USD/DKK is trading 0.05 percent lower at 6.2890, having hit low of 6.2749 earlier, its lowest since August 7.
Techincal indicators point bearish momentum.
Immediate resistance is located at 6.3116 (7-EMA), close above could take it till 6.3359.
On the downside, support is seen at 6.2690 and any break below will take it till 6.2509.
