FxWirePro: USD/DKK hovers towards 1-1/2 week peak, likely to test 6.6600
The Danish Krone declined, extending losses for the third straight session, as the greenback rallied across the board. However, the Danish Krone's downside appears limited as Denmark announced a string of initiatives to …
The Danish Krone declined, extending losses for the third straight session, as the greenback rallied across the board.
However, the Danish Krone's downside appears limited as Denmark announced a string of initiatives to stimulate the economy including cash handouts and a fund to support struggling companies.
Denmark will also release 60 billion kroner of vacation pay that’s been held in reserve in an effort to create new jobs and boost consumer spending.
USD/DKK is trading 0.1 percent up at 6.6286 having hit high of 6.6492 on Friday, its highest since June 4.
Immediate resistance is located at 6.6599, close above could take it till 6.6833.
On the downside, support is seen at 6.5900 (5-DMA) and any break below will take it till 6.5735.
