FxWirePro: USD/DKK near 1-week peak, jump till 6.3670 likely
The Danish Krone declined to a near 1-week trough as the greenback surged across the board. The dollar index gained after President Trump signed a series of executive orders to extend unemployment benefits. Investors app…
The Danish Krone declined to a near 1-week trough as the greenback surged across the board.
The dollar index gained after President Trump signed a series of executive orders to extend unemployment benefits.
Investors appear to have ignored Denmark's upbeat economic data, showing annual inflation rate increased to 0.5 percent in July, the most since February, from 0.3 percent in the previous month.
Separate report showed, trade surplus increased to DKK 7.9 billion in June from DKK 6.7 billion in the same month a year earlier, its largest trade surplus since March.
USD/DKK is trading 0.3 percent higher at 6.3391, having hit high of 6.3394 earlier, its highest since August 4.
Immediate resistance is located at 6.3670, close above could take it till 6.3890.
On the downside, support is seen at 6.3029 (5-DMA) and any break below will take it till 6.2802.
